General Motors on Tuesday said it would manufacture an electric pickup truck designed by Nikola, a six-year-old company that hasn’t produced any vehicles for sale and went public three months ago by merging with an already-public holding company. The deal, which gives GM an 11% stake in Nikola, shows how legacy automakers continue to chase the market pioneered by Tesla, the top seller of...
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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