Autos

GM conducted ‘appropriate diligence’ on $2 billion Nikola deal

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General Motors conducted “appropriate diligence” regarding a $2 billion deal with electric vehicle start-up Nikola, GM CEO Mary Barra said Monday.

Barra’s comments are a response to increased scrutiny of Nikola following fraud claims made last week by short-selling firm Hindenburg Research. Nikola on Monday disputed several of the claims but didn’t deny some of its actions, including a staged video showing a semitruck that appeared to be functional but wasn’t.

“The company has worked with a lot of different partners and we’re a very capable team that has done the appropriate diligence,” Barra said during a conference Monday with RBC Capital Markets. She referred any specific questions…



Source cnbc.com

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