Nikola Motors is set to reshape the trucking industry by creating North America's first hydrogen fuel cell truck, fuelled by Bosch's colossal $2.5 billion investment.

The company expects to be profitable by 2025 due to its semi-truck production.

Most EV stocks have been falling year to date. This week, the plunge was more evident. 

The work agreement marks the end of a tumultuous path that saw Nikola lose its founder and CEO Trevor Milton after accusations of fraud and lying about its technology, led to Milton stepping down from his position.

The company reported a loss of $117.5 million, or 31 cents per share for the third quarter, as compared to a loss of $15.5 million, or 6 cents per share in the same period last year.

The situation almost spiraled out of control for the company and despite Milton’s attempts to address some of the issues mentioned by Hindenburg Research, there was no positivity at all for Nikola. 

Wall Street is applauding GM for what it gets out of the agreement with Nikola.

In its SEC filings, the company forecasts to achieve revenue of $150 million in 2021 and over $3 billion by the end of 2024 by following a lease-based business model.