The once-promising EV startup failed to secure a buyer or additional funding, forcing it to pursue a structured sale of its assets. Nikola Corporation (Nasdaq: NKLA), a once-promising electric vehicle startup,

Nikola Corporation (NASDAQ:NKLA) shares are trading lower in the premarket session on Wednesday, after it filed for Chapter 11 bankruptcy, seeking to auction its assets while continuing limited operations through March 2025.

Nikola Corporation (NASDAQ:NKLA) plunged in early trading on Wednesday after the company announced that it filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

Electric vehicle manufacturer Nikola (NASDAQ:NKLA) has announced it has filed for Chapter 11 bankruptcy protection and plans a sale of its assets. This is the latest electric-vehicle company to run into trouble because of lukewarm demand,

Troubled electric vehicle maker Nikola has filed for Chapter 11 bankruptcy protection months after saying that it would likely run out of cash early this year. Nikola was a hot start-up and rising star on Wall Street before becoming enmeshed in scandal and its founder was convicted in 2022 for misleading investors about the Arizona company's technology.

The much-hyped electric vehicle maker that briefly sported a market value comparable to Ford, has filed for bankruptcy with plans to wind down its business.

After struggling to raise cash and undergoing several leadership changes, the electric semi truck maker Nikola filed for bankruptcy Wednesday.