Comment by perl4ever

It sounds bad, but I thought of another way to look at it.

Nikola's product is the brand of being a hip, "with it" electric car company, like Tesla, but different, and they are selling it to GM. It's a simple straightforward win-win, and everything that looks like fakery is beside the point. It has solid value to GM precisely because of the inflated, arguably irrational value of Tesla.

Now, I'm not investing, but it did occur to me to look at it that way. They are not actually in the same business as Tesla or GM. They're laundering cool factor.