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GM will no longer build an electric truck with Nikola

GM backed out of a previously announced partnership with Nikola, saying that it would no longer build the electric carmaker's Badger pickup truck, or take an equity stake in it. Nikola said the Badger was now canceled, and that would it refund all deposits.

Nikola said it would still partner with GM on fuel cell technology, though. The company's stock price was down almost 18% in premarket trading.

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