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<blockquote data-quote="Weather Man" data-source="post: 16488010" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>General Motors cruises right along despite Nikola speed bump</strong></span></p><p>Sep. 11, 2020 11:25 AM ET|About: <a href="https://seekingalpha.com/symbol/GM" target="_blank">General Motors Company (GM)</a>|By: <a href="https://seekingalpha.com/author/sa-editor-clark-schultz" target="_blank">Clark Schultz</a>, SA News Editor </p><p></p><p></p><p>General Motors (<a href="https://seekingalpha.com/symbol/GM" target="_blank">GM</a> +0.7%) is higher on the day as the sideshow playing out between Nikola (<a href="https://seekingalpha.com/symbol/NKLA" target="_blank">NKLA</a> -12.9%) and Hindenburg Research devolves into legal threats and Twitter blasts (<a href="https://twitter.com/nikolatrevor" target="_blank">see Trevor Milton</a>, <a href="https://twitter.com/CitronResearch/status/1304424202607312901" target="_blank">see Citron Research</a>).</p><p></p><p>Earlier in the week, JPMorgan noted that GM has more than just the equity stake in Nikola playing to its advantage.</p><p></p><p>"GM has identified a further $2B of earnings benefits (net of engineering costs) from the sale of the vehicles, batteries, and fuel cells to Nikola at cost plus," noted the firm. Included in the $2B figure is the likely potential for high margin software and service sales to Nikola to support the Badger, such as OnStar, Super Cruise, Over-the-Air updates, etc.</p><p></p><p>Deutsche Bank also was positive on the GM-Nikola deal. "We view this deal very positively for GM as we believe the unit economics are very favorable for the automaker (high margins and ROIC), and the partnership further positions its Ultium battery as a scalable industry wide platform that can pool together large volumes from several OEMs to improve costs," stated analyst Emmanuel Rosner.</p><p></p><p>Neither JPMorgan or Deutsche Bank has moved off its bullish stance on the GM-Nikola partnership since the Hindenburg report was posted.</p><p></p><p>On Seeking Alpha, <a href="https://seekingalpha.com/symbol/NKLA/analysis" target="_blank">the last five articles on Nikola have been bearish even before Hindenburg decided to join the debate</a>.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16488010, member: 137766"] [size=6][b]General Motors cruises right along despite Nikola speed bump[/b][/size] Sep. 11, 2020 11:25 AM ET|About: [URL='https://seekingalpha.com/symbol/GM']General Motors Company (GM)[/URL]|By: [URL='https://seekingalpha.com/author/sa-editor-clark-schultz']Clark Schultz[/URL], SA News Editor General Motors ([URL='https://seekingalpha.com/symbol/GM']GM[/URL] +0.7%) is higher on the day as the sideshow playing out between Nikola ([URL='https://seekingalpha.com/symbol/NKLA']NKLA[/URL] -12.9%) and Hindenburg Research devolves into legal threats and Twitter blasts ([URL='https://twitter.com/nikolatrevor']see Trevor Milton[/URL], [URL='https://twitter.com/CitronResearch/status/1304424202607312901']see Citron Research[/URL]). Earlier in the week, JPMorgan noted that GM has more than just the equity stake in Nikola playing to its advantage. "GM has identified a further $2B of earnings benefits (net of engineering costs) from the sale of the vehicles, batteries, and fuel cells to Nikola at cost plus," noted the firm. Included in the $2B figure is the likely potential for high margin software and service sales to Nikola to support the Badger, such as OnStar, Super Cruise, Over-the-Air updates, etc. Deutsche Bank also was positive on the GM-Nikola deal. "We view this deal very positively for GM as we believe the unit economics are very favorable for the automaker (high margins and ROIC), and the partnership further positions its Ultium battery as a scalable industry wide platform that can pool together large volumes from several OEMs to improve costs," stated analyst Emmanuel Rosner. Neither JPMorgan or Deutsche Bank has moved off its bullish stance on the GM-Nikola partnership since the Hindenburg report was posted. On Seeking Alpha, [URL='https://seekingalpha.com/symbol/NKLA/analysis']the last five articles on Nikola have been bearish even before Hindenburg decided to join the debate[/URL]. [/QUOTE]
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