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General Motors formally teamed up with Nikola Motors, inking a deal yesterday to help the electric-truck startup to develop and manufacture new electric truck models, in exchange for an 11% stake in Nikola Corp, The Wall Street Journal reported. Both company’s stock prices jumped after the announcement showing that investors are still sweet on big […]
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The major U.S. and foreign auto companies are racing to catch up to Tesla in the EV market, and are using this year’s auto show in Detroit to make the PR point, but there are few vehicles ready for market yet. According to the AP, one of the reasons is that SUVs and trucks make up 72% of the new vehicles sold in the U.S. last month, compared to 49% in December 2012. Thus, these new EVs will need to be SUVs, according to Axios. But only two of the vehicles scheduled to be “rolled out” at the Detroit auto show are electrified, AP notes, and neither is available for sale yet.
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