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Lucid supplies the batteries for Formula E, and has for a few years, and I believe they recently resigned a contract to be the continued battery supplier for FE
by wcarron 6y ago
Lucid supplies the batteries for Formula E, and has for a few years, and I believe they recently resigned a contract to be the continued battery supplier for FE.
- zed88 6y agoNikola had contracts too, with the likes of GM.
- sokoloff 6y agoNikola’s contract with GM was to buy from GM.
- zed88 6y agoIt is still a contract of some repute with 11% stake. Do you think GM would sell to just any other startup with no history, if it wasn't for the hype??
- sokoloff 6y agoThe 11% was an additional sweetener given to GM to induce the partnership, not money GM was investing in Nikola. Would I be willing to take some shine from an EV company willing to give me an approximately $2B (at the time) stake in their company, pay me around $700M of my own costs, and buy vehicles from me at a cost-plus arrangement? Shall I use my pen or yours? https://www.marketwatch.com/story/nikola-stock-drops-as-gm-deal-is-now-nothing-to-write-home-about-11606754461 https://www.marketwatch.com/story/nikola-stock-drops-as-gm-d... Disclaimer: I’ve been quite short $NKLA for a while, quite profitably; I still am.
- deleted 6y ago[deleted]
- ramenmeal 6y agoThat doesn't sound like a $24B business.
- wcarron 6y agoMaybe not, but they are clearly doing much more than just that, as a cursory google search (and the article) tells us.
- onion2k 6y agoA company that is successfully making high-performance vehicle batteries only being valued at $24bn a decade before laws force the electrification of all the cars in the US and Europe seems really undervalued to me.