Nikola Corp. became the latest EV maker to go bankrupt on Wednesday, as the Phoenix-based battery-electric and fuel cell-electric truck maker voluntarily filed for Chapter 11.
The company's bankruptcy comes after Fisker went bankrupt in 2024 and Lordstown Motors filed for bankruptcy in 2023.
Nikola's stock, which closed at a record low of 44 cents on Feb. 7, is currently halted for news. On Tuesday, it soared 41.4% to have its best day since July 13, 2023.
-Tomi Kilgore
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February 19, 2025 07:46 ET (12:46 GMT)
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