Nikola Corp. said in a government filing Thursday that it may run out of money in the next 12 months and have to “modify or terminate” its business.
The startup booked $6.5 million in revenue in the fourth quarter. But the cost of those sales was more than seven times the revenue generated. Such is the life of a startup trying to launch battery-electric vehicles (BEVs) and fuel cell-electric Class 8 trucks and simultaneously start a hydrogen production, distribution and sales business.
While the...
https://www.freightwaves.com/news/nikola-books-q4-revenue-but-it-was-really-expensive