Consumers have begun demanding for automotive manufacturers to adopt the electric format to their vehicles. Most have resisted, standing beside the standard combustion engine. These manufacturers have struggled to sustain profits against the ever-growing Tesla. However, the General Motors Company understands that adopting future technologies before the masses use it will benefit their future growth. It’s what prompted GM to announce their 1st Electric/Hydrogen truck. General Motors confirmed it’d be released by 2023 & compete directly against the Tesla Cybertruck.
Manufacturing this vehicle in a two-year timeframe has required General Motors to partner with Nikola, an Arizona-established electric engine manufacturer. Together, these two corporations will work on developing the “2023 GM Badger Pick-Up Truck”. General Motors has greenlit a budget valued at $2 Billion to complete this manufacturing feat.
Production on the GM Badger will begin twelve-months earlier in Summer 2022. It’ll combine electric battery & hydrogen gasses/oxygen to produce powerful speeds while maintaining impressive torque for carrying capabilities. It should be mentioned that Nikola has given General Motors an 11% stake in their company, knowing that this deal will sustain decades under the right conditions.
General Motors recognizes that confidence behind electric vehicles has grown for consumers since Tesla became a famous brand. July 2020 saw Tesla sell 3x the cars that General Motors supported, prompting GM Executives to delegate on adopting the modernized technology.
Unsurprisingly, Nikola has partnered with General Motors; the Nikola Company reached a shocking valuation on Wall Street. It came after they introduced “Hydrogen Fuel Cells” for their Class Seven & Class Eight vehicles, which haven’t been released to date. Nikola maintains a higher valuation than General Motors, even though they’ve yet to sell a single car. It’ll be interesting to see how these two partnerships unfold after the release of GMs 2023 Badger.
It should be remembered that this is the 2nd partnership that the General Motors Company announced since September 1st. Executives have confirmed that they’re teaming up with Honda – North America, to create cleaner fuels & components that can be used in their vehicles. Attributing this partnership in-correlation with Nikola, and GM is suited to compete against Tesla aggressively.