A new agreement that provides General Motors` hydrogen fuel cell technology is closer than the September partnership. On Monday, the two companies announced a significantly reduced agreement that maintains the fuel cell partnership. As part of the MOU, Nikola and GM “will work together to integrate GM`s Hydrotec fuel cell technology in Nikolas from Class 7 and 8 emission-free vehicles for medium- and long-haul trucks,” Nikola said. The agreement between Nikola and GM is subject to negotiation and execution of final documents acceptable to both parties. The agreement does not include GM`s previously envisaged involvement in Nikola, nor the development of Nikola Badger. As previously announced, the Nikola Badger program depended on an OEM partnership. Nikola refunds all submissions previously filed for Nikola Badger. ABOUT NIKOLA CORPORATION: Nikola Corporation is changing the transportation industry around the world. As a designer and manufacturer of zero-emission battery electric vehicles and hydrogen, electric vehicle propulsion, automotive components, energy storage systems and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of trade as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor. FORWARD LOOKING STATEMENTS Certain statements contained in this press release and not historical statements are forward-looking statements for the purposes of the Security Freedom Act of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally accompanied by words such as “believe,” “may,” “want,” “appreciate,” “continue,” “anticipate,” “expect,” “should,” “plan,” “plan,” “anticipate,” “potential,” “appear,” “seek,” “forward- ” outlook” and similar expressions that predict future events or trends.
These forward-looking statements include, among other things, statements about Nikola`s expectations regarding the terms and potential benefits of the agreement or a final agreement with GM; Nikolas` expectations and deadlines for prototypes and production and testing; The benefits of fuel cell technology and Nikolas` beliefs about the benefits of his emission-free vehicles. These statements are based on different assumptions, whether or not they are mentioned in this press release, and on Nikolas Management`s current expectations and are not predictions of actual performance.