The Nikola-GM Deal Won’t Close Today. GM Might Demand a Bigger Stake.

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Courtesy by Nikola


General Motors

and

Nikola

recently announced a blockbuster deal, shaking up both the car and truck industries. The details were supposed to be nailed down by today, but negotiations are ongoing, according to both companies, leaving investors to wonder what comes next.

For the deal to go forward, Nikola (ticker: NKLA) might have to offer GM (GM) more stock.

The deal, announced Sept. 8, gives General Motors an 11% stake in Nikola in exchange for GM supplying parts and providing engineering and manufacturing support. Wall Street said the deal validated Nikola’s business model. It also helped change the perception of GM’s battery and fuel-cell technology platforms. After the deal, Morgan Stanley analyst Adam Jonas wondered in a research report if GM has a “stable of potential unicorns,” referring to the name given to privately held billion-dollar tech start-ups.

But a short seller’s report, published Sept.

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OVERNIGHT ENERGY: California seeks to sell only electric cars by 2035 | EPA threatens to close New York City office after Trump threats to ‘anarchist’ cities

HAPPY WEDNESDAY! Welcome to Overnight Energy, The Hill’s roundup of the latest energy and environment news. Please send tips and comments to Rebecca Beitsch at rbeitsch@thehill.com. Follow her on Twitter: @rebeccabeitsch. Reach Rachel Frazin at rfrazin@thehill.com or follow her on Twitter: @RachelFrazin.



a car parked in a parking lot: OVERNIGHT ENERGY: California seeks to sell only electric cars by 2035 | EPA threatens to close New York City office after Trump threats to 'anarchist' cities | House energy package sparks criticism from left and right


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OVERNIGHT ENERGY: California seeks to sell only electric cars by 2035 | EPA threatens to close New York City office after Trump threats to ‘anarchist’ cities | House energy package sparks criticism from left and right

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IT’S ELECTRIC: A new executive order from California Gov. Gavin Newsom (D) seeks to phase out the use of gas-powered cars in the state by only allowing the sale of zero-emissions passenger cars and trucks by 2035.

The executive order also aims to require medium- and heavy-duty vehicles in the state to be zero-emissions by 2045.

The executive order

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Equity indices close over 2 pc higher, IT and auto stocks lead

Mumbai (Maharashtra) [India], Sep 25 (ANI): Equity benchmark indices closed over 2 per cent higher on Friday on the back of across-the-board gains while Asian markets rose on hopes of a US stimulus package.

The BSE S&P Sensex was up by 835 points or 2.28 per cent at 37,389 while the Nifty 50 gained by 245 points or 2.26 per cent at 11,050.
All sectoral indices at the National Stock Exchange were in the green with Nifty IT ticking up by 3.4 per cent, auto by 3.3 per cent and FMCG by 2 per cent.
Among stocks, HCL Technologies moved up by 5.3 per cent to Rs 830.10 per share while Tata Consultancy Services advanced by 3.6 per cent to close at Rs 2,417.75.
Bajaj Finserv was up by 6.6 per cent, Cipla by 5.1 per cent, Bharti Airtel by 4.9 per cent, Adani Ports by 4 per cent and

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UPDATE 1-Harley close to deal with India’s Hero after stopping local manufacturing-sources

* India’s Hero, Harley in talks for distribution deal-sources

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* Hero also seen manufacturing one Harley bike in India-source

* Harley has decided to stop direct sales, manufacturing in India

* Harley latest foreign auto firm to pare India operations (Adds details of deal talk, context)

By Aditya Kalra and Aditi Shah

NEW DELHI, Sept 25 (Reuters) – Harley-Davidson Inc is in advanced talks with India’s Hero MotoCorp for a distribution deal which will allow the U.S. firm’s iconic motorcycles to be sold in India, after it stops local manufacturing there, three sources told Reuters.

The Milwaukee-based company said on Thursday it will stop sales and shut its manufacturing plant in India, effectively abandoning the world’s biggest motorcycle market after a decade of unsuccessful efforts to gain a foothold.

Harley however is in talks with Hero MotoCorp to enter into a distribution arrangement that will allow the Indian

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How to See the Best of Alaska’s Nature, Mountains and Glaciers Close to Anchorage

Looking for just one more adventure to round out your Alaska Vacation? Prince William Sound is a great addition to an Alaska vacation package that will likely be the highlight of your Alaska Vacation. Incredible marine life, stunning mountain vistas, glaciers and three port cities that offer an array of visitor services, make this an attractive add on. And the Alaska Marine Highway has new and improved ferry service to and from the port cities of Whittier, Cordova and Valdez so trip planning just became easier, faster and more affordable.

Alaska is so large and so diverse that it is often difficult to see it all in one trip. But a trip through Prince William Sound, with a stop-over in each of the three communities will allow you to experience much of what makes Alaska special. And with the Alaska Marine Highway it’s possible to make a loop so as … Read More

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No Credit Auto Loans – Tips to Help You Close the Deal

It’s the perfect case scenario: you have cleared your driving test and you have been saving to buy your dream car for a long time. However, before signing that dotted line on your auto loan agreement, there is an element of hesitation in the air; stemming from the fact that you don’t have any credit history. Your credit history can be a deciding factor in knowing whether your loan is approved or rejected. Many a times, however, there just isn’t enough credit history to get started with.

There might be many reasons why a person has a no credit history. Usually, college graduates and teenagers have no credit history because until now, there wasn’t any chance for them to establish a credit record.

Another instance of people with no credit history is recent immigrants who moved to a new country and haven’t applied for an auto loan, as they mostly … Read More

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