The American manufacturer of heavy-duty commercial battery-electric vehicles, Nikola Corporation, was founded in 2014 and since then has been struggling with all the difficulties of the commercial vehicle market. Now, it is in the most difficult situation that suggests that the company could be sold.

Three years ago, the founder of the company, Trevor Milton, was sentenced to four years in prison for fraud, and his place at the head of the company was taken by Steve Girsky. Unnamed sources told Bloomberg that the company is in financial trouble and needs a savior. The company also announced that it has enough money to cover its obligations until the end of Q1 2025, and that it is working to find a partner to save the company from bankruptcy.

Although a final decision has yet to be made, it is possible that management will give permission for the sale, although many believe that the best decision would be a partnership, if there are interested parties.

Source: Bloomberg