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In addition to the 11%, GM is also slated to earn up to 700 million dollars in cash.

• yholio 6y ago
  More specifically was slated to earn 700 million, if the Nikola ponzi had been able to slip under the radar and continue. I'm absolutely sure NKLA does not have 0.7 billion lying around in cash, those are new investment that they need to raise. Fake it till you make it, they say. In the current situation, all investors will require substantial proof of working technology. No working tech, no new investment, the company will probably fold before paying back a cent to GM.
  • easde 6y ago
    As of their last earnings report Nikola had almost exactly $700M in cash / cash equivalents. Maybe GM just wants that :)
    • yholio 6y ago
      That's interesting. Without any product, what exactly are those sources of cash earnings?
      • toomuchtodo 6y ago
        Reverse merger with a SPAC investment vehicle. They're not earnings, they're investor funds. https://www.businessinsider.com/spac-biggest-blank-check-deals-ackman-chamath-palihapitiya-nikola-draftkings-2020-7 https://www.businessinsider.com/spac-biggest-blank-check-dea...
    • nickik 6y ago
      They need that for the next 3 years where they will not make money.