General Motors and electric-vehicle maker Nikola are revving their engines—together.
The two automotive companies announced this morning that they’re forming what they call a strategic partnership.
Their first big project together is the Nikola Badger, an electric pickup truck that they expect to be in production by the end of 2022.
The deal gives GM 11% ownership in Nikola. Under the terms, GM will receive $2 billion in newly issued common stock from Nikola in exchange for in-kind…