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Truck EV maker Nikola to auction business with $1b debt
Nikola plans to sell its entire business by April 2025 after filing for chapter 11 bankruptcy with over US$1 billion in liabilities.
At least three potential buyers have shown interest, with a bidding deadline set for March 27 and an auction planned by month’s end.
If no buyer is found, Nikola will sell assets individually, including its Coolidge, Arizona manufacturing facility.
The company struggled to secure buyers or investors, with CEO Stephen Girsky revealing failed talks with 22 potential buyers.
Recent Nikola developments
| Timeline |
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20-Feb-2025 🚚 Hydrogen truck maker Nikola files for bankruptcy
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