Nikola, the Phoenix-based EV startup focused on electric and hydrogen commercial trucks, has filed for Chapter 11 bankruptcy. The news comes after reports earlier this month that the fledgling automaker was running out of money.
The company has experienced a rocky 10 years since it was founded in 2014 with a focus on both electric and hydrogen fuel-cell vehicles.
In 2020, Nikola revealed the Badger, a tough-looking EV pickup with both EV and hydrogen powertrains.
The company was accused of fraud a short time later, with then-Nikola CEO Trevor Milton found guilty of multiple charges in 2022.
Source: motoringnews
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