19.02.2025 18:27 Uhr, Quelle: Engadget

EV truck maker Nikola has finally called it quits

The embattled EV truck maker Nikola is going kaput. The company just announced a filing for Chapter 11 bankruptcy protection and a plan to sell off assets. These assets will be sold at an auction, pending court approval. Nikola noted it has $47 million in cash on hand to fund the bankruptcy proceedings and begin the sale process. The company has reported between $500 million to $1 billion in assets, but liabilities totaling $1 billion to $10 billion, according to a court filing. “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,” said Steve Girsky, President and CEO of Nikola. Those market and macroeconomic factors are real, as EV adoption growth rates have slowed a bit. However, Nikola is a special case. The company has been embroiled in numerous scandals in recent years, so this news caps off a particularly dire fall from grace for the once-buzzy EV maker. Nikola was founded in 2015 with a miss

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