Nikola (NASDAQ: NKLA) falls sharply after CEO Mark Russell says he sees a path for the company even if it does not end a deal with General Motors (NYSE: GM) in a strategic partnership.
“We have the ability and we have a basic plan to do it ourselves. If we have a partner, we are given the ability to think faster and help reduce risk,” Russell said.
Nikola is willing to drop the Badger truck from its production plans if it fails to secure an agreement with an original equipment manufacturer like GM.
Conversations between Nikola and GM are said to be ongoing.
Nikola̵7;s sharing is dropped by 14.88% and exchanged for less than $ 19.63 during the session. GM is up 1.85%.
Check out a timeline of the Nikola-GM drama