LG New Energy signs agreement with electric truck company Nikola: Report

American electric truck company Nikola announced that the company has signed a long-term battery supply contract with LG New Energy. The total value of this contract and battery supply is currently confidential. The contract of this term is eight years (from 2022 to 2029).

Nikola said in the company’s third-quarter financial report on November 4 this year that the company had signed a long-term battery supply contract with LG New Energy Solutions on October 20 this year, which marked LG New Energy Solutions. The company will reach a battery supply agreement with Nikola for the first time.

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Moreover, Nikola was founded in 2015 and has been widely regarded as the second Tesla since it was listed on the Nasdaq in New York in June 2020. But this year’s life for Nikola is not easy.

Furthermore, there was news that General Motors in the United States will provide batteries, chassis architecture, fuel cell systems, and a factory to produce Nikola Badger electric pickup trucks. Nikola will give General Motors 11% equity in exchange. But then the transaction was questioned, pointing out that Nikola had deceived, and Nikola later denied this statement.