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General Motors, an American multinational that was the world’s largest automaker in the 20th century, announced that it would get 11% of America’s electric truck start-up. But it’s not the first time Nikola for $2 billion, which would push any of the shares into pre-marketing negotiations on Tuesday.
The automaker will also get the right to appoint a director. General Motors takes the opportunity to expand with Nikola to bravely enter wider markets with hydrotech and Ultium mobile fuel systems, the company said in the statement.
After launch, General Motors inventories rose about 6% to $ 31. 66 on Tuesday before market, but inventory is down 17% this year.
In addition, Nikola’s inventories rose more than 30% to $45. 68 in pre-commission. In addition, inventory has increased to more than 240% this year.
“By joining forces, we have access to its validated parts for all of our programs, General Motors Ultium battery generation and a mobile multimillion-dollar fuel program in production position. Nikola promptly gains decades of supplier knowledge and production, validated and tested electric vehicle propulsion in a position of production, world-class engineering and investor confidence,” nikola founder and CEO Trevor Milton said.
“More importantly, General Motors is interested in Nikola succeeding. We made three promises to our shareholders and have now fulfilled two out of three promises earlier than expected. What an exciting announcement,” Milton added.
“We are expanding our presence across several segments of high-volume electric vehicles as we create a scale to reduce prices for batteries and mobile fuels and increase profitability. In addition, the application of General Motors’ electrified generation responds to the heavy vehicle category It is a vital step to know our vision of an emissions-free future,” said Mary Barra, President and CEO of General Motors.
Fourteen analysts forecast the average value of 12 months at $33. 46 with a maximum forecast of $46. 00 and a low forecast of $15. 00. The average value target represents an increase of 11. 53% over the last value of $30. 00. Of those 14 analysts, ten rated “Buy, “3” Keep “and One” Sell,” according to Tipranks.
Morgan Stanley gave a target value of $46 with a maximum of $68 in a bullish situation and $15 at worst. General Motors’ percentage value forecast increased through Citigroup to $54 from $53.
Other inventory analysts have also recently updated their inventory market prospects. General Motors saw its highest value target through Deutsche Bank at $33 from $30. $27. 00 to $34 and gave the company an acquisition note.
“We are obese (OW) due to the strong diversification of our portfolio between: General Motors (GM) brands, as well as EV, ICE and AV. It also has leading margins in North America, generates strong money and has a solid balance sheet,” said Adam Jonas, equity analyst at Morgan Stanley.
“We, the market underestimates GM’s SOTP through: 1) Legacy ICE, 2) GM EV, 3) GM’s Ultium Battery business, 4) China JVs, 5) GM Finco, 6) GM Cruise and 7) franchise price hidden in brands as Corvette. GM control has a proven track record of allocating capital away from structurally complicated spaces to reposition the business model” Added.
Upside down: 1) HD truck ramp and full size SUV platform. 2) Strategic option, to leave Europe. 3) Cash / Cash Management. 4) Split from EV Business or GM Cruise – said Morgan Stanley.
Cons: 1) Used vehicle prices. 2) Profitability in China. 3) SAAR remains depressed. 4) GM monetary losses.
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This article was originally published on FX Empire
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