Nikola Corporation Stock News

Electric trucking startup Nikola is hoping to sell what remains of its whole business as early as April, lawyers for the company told a judge Thursday during the first hearing of its bankruptcy case in Delaware.

Nikola Corporation (Nasdaq: NKLA), a once-promising electric vehicle startup, filed for Chapter 11 bankruptcy protection Wednesday after failing to secure a buyer or raise additional funds to sustain operations. The Phoenix-based company, known for its hydrogen and battery-electric trucks, announced that it will pursue a structured sale of its assets under Section 363 of the U.S. Bankruptcy Code.

After becoming embroiled in scandal, formerly hot startup and Wall Street star had said it would likely run out of cash

Electric vehicle startup Nikola (NKLA) filed for Chapter 11 bankruptcy and plans to move forward with an auction of its assets, pending court approval, the company said Wednesday.

Nikola Corp (NASDAQ:NKLA) stock plummeted after the heavy-duty electric vehicle manufacturer revealed it has filed for Chapter 11 bankruptcy.  The Phoenix, Arizona-based company said it has initiated an auction and sale process for its assets, with potential buyers including both strategic and financial investors.

On Wednesday, the electric vehicle maker -- which paid $125 million to settle claims it misled investors -- said it is seeking an auction and sale process of its assets.

Nikola Corp., once hailed as a rising star in the electric vehicle industry, has filed for Chapter 11 bankruptcy protection, marking the end of a dramatic rise and fall. The company, which once boasted a market valuation higher than Ford's, failed to secure additional funding or find a buyer to keep its operations afloat.

After years of decline, the heavy-duty electric vehicle (EV) maker Nikola (NASDAQ: NKLA) found itself on a major rollercoaster ride in mid-February 2025.