home All News open_in_new Full Article

Nikola went from $30bn EV hope to bankrupt penny stock in just five years – what went wrong?

Hydrogen as well as battery-pack fuelled trucks were the big plan for Nikola but they got only 400 onto the road last year. Karl Matchett details the wrong turns taken



Nikola Motors, once valued at over $30 billion, filed for bankruptcy after five years due to mismanagement and failing to meet production targets. The company, which aimed to deliver thousands of hydrogen and battery-powered trucks, only produced 400 vehicles last year. Market challenges and macroeconomic factors contributed to their downfall, with debts exceeding $350 million and cash reserves at $47 million. The company is now selling assets to preserve value for creditors before ceasing operations.

today 63 h. ago attach_file Economics

attach_file Politics
attach_file Economics
attach_file Events
attach_file Events
attach_file Politics
attach_file Events
attach_file Politics
attach_file Sport
attach_file Sport
attach_file Politics
attach_file Politics
attach_file Sport
attach_file Politics
attach_file Politics
attach_file Sport
attach_file Politics
attach_file Politics
attach_file Politics
attach_file Politics
attach_file Politics


ID: 3337790411
Add Watch Country

arrow_drop_down