Nikola has sold the Badger electric pickup truck program to Embr Motors, a company founded by Dave “Heavy D” Sparks, known as one half of the Diesel Brothers.
• Buyer is one half of Diesel Brothers
• End of partnership with General Motors
• Nikola founder sentenced to prison for fraud
Nikola sells Badger pickup truck program
Nikola, the American company plagued by various problems, recently sold the Badger electric pickup truck program, which was once supposed to be developed in collaboration with General Motors.
The Badger pickup truck promised to be a vehicle that combined innovation and performance. With a revolutionary design and a focus on sustainability, the Badger was intended to set a new benchmark for electric pickup trucks, as AUTO ZEITUNG reports. The Badger pickup truck’s powertrain would be based on a combination of battery and hydrogen technology, promising impressive range and performance. This innovative drive solution should not only offer high performance and efficiency, but also reduce environmental impact and offer drivers a sustainable alternative to conventional pickup trucks. The plan was for the Badger to come onto the market in 2022.
However, the plans have not yet been implemented. However, a sale of the Badger pickup truck program could now breathe new life into the project. The buyer? None other than Dave “Heavy D” Sparks, one half of the popular reality TV duo “Diesel Brothers” and founder of the new company Embr Motors. According to autoblog, Embr Motors will not only take over the intellectual property of the Badger pickup truck, but also the assets related to Nikola’s discontinued SUVs and watercraft. In addition, the only two prototypes of the Badger become the property of Embr.
Nikola wanted to bring Badger to market with support from GM
Although Nikola was originally known for developing hydrogen and electric trucks, the company surprised in February 2020 by announcing the Badger pickup truck. This decision came shortly before the company went public. The partnership with General Motors, announced in September 2020 and involving a $2 billion investment, according to a statement from General Motors, was intended to help bring the Badger to market. However, a Hindenburg Research report on fraudulent activity involving Nikola created a scandal that led to a government investigation and ultimately led to the resignation and conviction of Nikola founder and former CEO Trevor Milton on securities fraud charges.
Friendship with the founder
Dave Sparks recently made the purchase of the Badger program public in a YouTube video, revealing that the transaction involved “tens of millions” of dollars.
He emphasized that he had already received shares in Nikola before the project failed and that he had been a long-time friend of Milton.
Nikola confirmed the sale and said it would provide financial support to Embr Motors, TechCrunch said, citing company sources. In return, Nikola will receive a 30 percent stake in Embr Motors. However, it is agreed that Trevor Milton will have no direct or indirect involvement in Embr’s projects.
Editorial team finanzen.net
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