Polaris makes deal to bring EV to core ATV products
Polaris Inc. has signed a 10-year partnership agreement with Zero Motorcycles to help develop an electric vehicle option for eachof its core product segments by 2025.Called Rev’d Up, the Medina-based company’s goal is become the leaderl in EV in the powersports industry.“We are not new to electric, what we are new to is electric to our core powersports customer that requires performance and range,” said Polaris Chief Executive Scott Wine.Polaris has produced some EV products, but the partnership with Scotts Valley, Calif.-based Zero will accelerate the development of a lineup of electric all-t...
Star Tribune (Minneapolis)
GM pushes back contract signing with Nikola as it likely renegotiates
DETROIT — General Motors has pushed back the closing date on its pending partnership with Nikola Corp., most likely to renegotiate the terms after Nikola’s stock price has plummeted.The Phoenix-based electric-truck company faces allegations of fraud, but GM has said it intends to complete the deal with the company.On Tuesday GM issued a statement that read: “Our transaction with Nikola has not closed. We are continuing our discussions with Nikola and will provide further updates when appropriate or required.”GM was tentatively due to close on a 10-year deal Wednesday. The deal would allow GM t...
Detroit Free Press
Delta to turn down CARES Act loan, take on debt backed by SkyMiles
ATLANTA — Delta Air Lines will turn down a federal loan through the CARES Act and instead take on debt backed by its SkyMiles frequent flier program.The move allows Atlanta-based Delta to avoid surrendering more control in return for new federal money. It also highlights the airline’s ability to tap capital markets and the continued popularity of credit cards offering frequent flier miles despite a steep drop in air travel.Delta got $5.4 billion in federal aid through the CARES Act passed by Congress, and had signed a letter of intent giving it the option of also taking a $4.6 billion loan thr...
The Atlanta Journal-Constitution
GM forms alliance with Honda to develop future products in North America
DETROIT — General Motors and Honda have a deal to share vehicle platforms and technology in North America starting next year.On Thursday the automakers said they have signed a non-binding memorandum of understanding to establish a North American automotive alliance. The deal has come together after extensive discussions.The proposed alliance will include sharing a range of vehicles, to be sold under each company’s distinct brands, as well as cooperation in purchasing, research and development, and connected services.Honda and GM plan to collaborate on purchasing supplies by leveraging their sc...
Detroit Free Press