A company once hailed as a challenger filed for bankruptcy on Wednesday and plans to wind down operations.
Nikola — infamously caught in a promotional video — is the latest EV startup to collapse. Sluggish demand, huge costs and investors running for the hills are to blame.
Fisker, Proterra and Lordstown Motors — other EV startups that went public during the pandemic, promising to revolutionize the sector — have also filed for bankruptcy in recent years.
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