Hyperdrive
Nikola and Rivian’s Appetite for Risk Is Prize for GM, Ford
- Detroit bets startup swagger rubs off on established carmakers
- Partnerships in EVs follow pattern for self-driving technology
Source: Nikola Corp.
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Detroit automakers have long relied on in-house innovation for competitive advantages and bragging rights, but for next-generation electric and driverless technologies they are adopting a new strategy: If you can’t beat ’em, join ’em.
General Motors Co. and Ford Motor Co. have plug-in electric vehicles and a dominant share of the U.S. pickup-truck market, but they have tapped outside expertise and companies lauded by investors as EV pioneers for some of their first battery-powered trucks.