GM will provide the electric truckmaker with hydrotec fuel cells.
This new agreement takes the place of the previous agreement where GM would be taking a stake in Nikola.
"This supply agreement recognizes our leading fuel cell technology expertise and development," said GM's executive vice president of global product development Doug Parks. "Providing our Hydrotec fuel cell systems to the heavy-duty class of commercial vehicles is an important part of our growth strategy and reinforces our commitment toward an all-electric, zero-emissions future."
Jim Cramer weighs in on the agreement.