EV Truck Startup Nikola Files for Chapter 11 Bankruptcy

Key TakeawaysElectric vehicle startup Nikola on Wednesday filed for Chapter 11 bankruptcy.The company plans to hold an auction of its assets, pending court approval.Nikola once reached a higher market capitalization than Ford Motor before it had sold a single truck, but its vehicles would later be mass-recalled and its founder convicted of fraud. 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 ...