Reported 2 days ago
Nikola, the electric vehicle startup known for its hydrogen trucks, has filed for Chapter 11 bankruptcy and announced plans to auction its assets, subject to court approval. The company, which once surpassed Ford in market capitalization without selling a truck, has faced significant challenges, including a mass vehicle recall and legal issues with its founder. Nikola currently has about $47 million in cash to navigate its bankruptcy process.
Source: YAHOO