Commercial truck manufacturer shuts down, no bankruptcy yet

Group 1: Industry Overview - The electric vehicle sector has experienced significant financial distress over the past two years due to rising costs from inflation and high interest rates, resulting in multiple bankruptcy filings and business closures [1] - Several companies, including Fisker Group Inc. and Ideanomics Inc., have filed for Chapter 11 bankruptcy, with Ideanomics closing all of its EV manufacturing operations [2] - Commercial electric truck manufacturers, such as Nikola Corp. and Bollinger Motors, have also faced severe financial challenges, leading to bankruptcy filings and operational shutdowns [3][6] Group 2: Company-Specific Developments - Fisker Group Inc. began deliveries of its Ocean battery-electric crossover SUV in 2023 but filed for Chapter 11 bankruptcy on June 17, 2024, and subsequently liquidated its assets [1] - Ideanomics Inc. sought to sell its assets to secured debt lender Tillou Management & Consulting after filing for Chapter 11 bankruptcy on December 4, 2024 [2] - Nikola Corp. filed for Chapter 11 bankruptcy on February 19, 2025, following a costly recall of all its BEV trucks, which incurred $44 million in losses [4][3] - Bollinger Motors ceased operations on November 21, 2024, after missing two payroll payments, and had previously emerged from receivership [6][7]