The startup truck company announced an alliance with General Motors promising financial support, credibility with investors, and critical technology. Shortly afterward, there were claims that there might have been an exaggeration of capabilities. Afterward, there were agreements on a limited basis.GM will still make hydrogen fuel cells for Nikola, but the idea of taking up 11% of the company’s stack or make an electric pick-up truck. This news brought a drop in the stocks by 27% to $20.41.
But Nikola isn’t disputing one of Hindenburg’s largest claims — that it staged a video showing a truck that appeared to be functional but wasn’t, as well as claims that the truck was fully functional.From CNBC