YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Electric vehicle maker Nikola has filed for Chapter 11 bankruptcy protection.
Through bankruptcy proceedings, the company intends to pursue an auction and sale process of its assets.
"Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate," Nikola CEO Steve Girsky said. "Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the board has determined that Chapter 11 represents the best possible path forward under the circumstances for the company and its stakeholders."
Read more from CNBC.
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