GM-Nikola deal still not closed as controversy continues

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Girsky and Nikola CEO Mark Russell attempted to calm investors by assuring them that the company’s production timelines and factory construction remain on schedule. Girsky said the company’s Board remains “very supportive” of Russell and the Nikola team.

In the meantime, there are reports that Nikola is targeting its critics. The EV manufacturer is accused of trying to scrub the internet of the evidence that can back up the Hindenburg Report. 

On YouTube, a number of videos are being taken down. Nikola is claiming their promotional videos and press release videos are copyrighted. Some of the video disappearings include the infamous clip of Nikola One rolling down a hill.

“Our transaction with Nikola has not closed,” a GM spokesperson said late Monday. “We are continuing our discussions with Nikola and will provide further updates when appropriate or required.”

If the proposed partnership agreement doesn’t close by Dec. 3, it can be terminated by either party. NKLA stock has lost nearly two-thirds of its value since the GM deal was announced. GM lost 2.4%.