Nikola, founded as a rival to Tesla, announced his bankruptcy. Nikola announced that he was preparing to sell all the assets he has to pay his debts.
Producing electric and hydrogen commercial vehicles, Nikola announced that he could not overcome financial difficulties and attracted the bankruptcy flag. Here are the details!
Nikola’s end has come
Nikola has been dealing with financial bottleneck for a while. The company could not get investment and did not achieve the success it expected in the sales sales. In this process, Nikola’s shares, which fell quickly at the expense of market, rose to $ 2,000 in 2020, while recently declined to 0.49 cents. The market cost up to 29 billion dollars is at the level of $ 39 million today.
The company’s past was also full of discussions. Former CEO Trevor Milton faced the charges of federal fraud on the grounds that he made deceptive statements at the time he founded the company. Nikola, who focused only on commercial models after leaving Milton, did not succeed with this strategy.
Many electric vehicle enterprises that have emerged with Tesla in recent years have faced financial difficulties. Nikola’s statement of bankruptcy added a new one to the middle of the companies living in the segment. Brands, Fisker, Lordstown Motors and Canoo, had to stop their activities due to economic oppressors.
