Electric-truck maker Nikola files for Chapter 11 bankruptcy protection | CNN Business
Nikola said Wednesday it had filed for Chapter 11 bankruptcy protection and would pursue a sale of all or most of its assets, after grappling with rapid cash burn and struggling to raise funds in the past few quarters.
The development brings to a close a challenging journey that included numerous leadership changes, choppy sales and a plummeting share value.
EV firms that went public during the pandemic, promising to revolutionize the sector, such as Fisker, Proterra and Lordstown Motors have fi...
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