Shares of Nikola are moving higher after General Motors President Mark Reuss told Bloomberg that the company is moving forward with partnership talks.

Nikola CEO says the company has a "base plan" to go it alone if deal talks with GM fall through.

JPMorgan analyst Paul Coster believes Nikola and General Motors are still likely to enter into a strategic partnership by December 3.

Electric car stocks are incredibly popular in the stock market. Obviously, Tesla stock (TSLA) is by far the most popular choice, but the rise in popularity of NIO stock provides a nice alternative.

Electric vehicle stocks have recently been pulling back, but none more so than Nikola. The electric/hydrogen-fueled truck maker had been the darling of the stock market in recent months.