Nikola Corp. filed for Chapter 11 bankruptcy protection Wednesday after failing to secure a buyer or raise additional capital. The Phoenix-based manufacturer of zero-emissions trucks announced it will pursue an auction and sale process for its assets as it grapples with ongoing financial difficulties.
This marks a dramatic fall for a company that was, at its valuation peak in 2020, briefly worth more than Ford Motor Co.
“Like other companies in the electric vehicle industry, we have faced various...
https://www.freightwaves.com/news/nikola-files-for-chapter-11-bankruptcy-protection