Nikola shares plummet on news of smaller deal with GM

General Motors is giving up its equity stake in Nikola Motors and scrapping plans to build the electric truck maker’s Badger pickup as part of a new, scaled-back deal between the companies.

General Motors is giving up its equity stake in Nikola Motors and scrapping plans to build the electric truck maker’s Badger pickup as part of a new, scaled-back deal between the companies.