Nikola, E.V. Start-Up That Once Thrilled Investors, Files for Bankruptcy

Nicolas, an emerging electric cars company that once hoped to become Tesla to heavy trucks, was presented to protect bankruptcy on Wednesday.

Nicola was founded in 2015, Nicola promised to develop semi -long -term trucks backed by hydrogen and electricity, and was included in the stock exchange in 2020 before selling one car. The price of his stock has increased for a short period, as individual investors and some Wall Street companies proof of companies that they believed could repeat the success of Tesla and the high stock price.

The enthusiasm of the investors made Nicolas its founder, Tarvor Milton, and other wealthy investors. But a long time ago, great doubts about Mr. Milton’s demands about the company’s technology and customs orders appeared. He was soon expelled, and later convicted of fraud.

In the last quarters, Nicolas began to provide small numbers of electric trucks, but very few of earning money. Late last year, the company said it had $ 200 million in cash and $ 270 million of long -term debt. Its shares decreased in early February based on reports that the company was close to submitting bankruptcy.

Company He said in a statement She had about 47 million dollars in accordance with cash, and aims to continue the “limited” service and support trucks on the road. Allocating bankruptcy files ranging from one billion dollars and 10 billion dollars, and putting the number of creditors due between 1000 and 5000.

Nikola is one of the many emerging electric car companies that have struggled to convert their ideas into actual cars and trucks.

Lordstown Motors, who tried to make pick -up trucks at the closed General Motors factory in Ohio, sought bankruptcy in 2023, and in 2024, she was accused of misleading investors by the Securities and Exchange Committee.

A start -up company based in Britain called the arrival of a scheme to make electric trucks and buses. But she is struggling to make her car ideas and manufacture working and then sold her assets to start another, Canoo. This company advanced bankruptcy last month.

There are still a few of the startups for electric cars operating despite the low prices of their shares and not clear how or when they will be profitable.

Rivian, which makes Beck August and sports compounds, faced difficulty in increasing production to the levels that were originally aimed at, and its shares are now trading at a price of $ 13 per share-tenth place where it was in late 2021. But the company got an important lifeline of the year The past when I created a partnership with the German company Volkswagen, which got a large share in Rivian.

Lucid motors make luxury electric cars and four -wheel drive vehicles, but they are less than their original sales and production targets. She also hopes to make deals that sell their technology to other auto manufacturers.

“Like other companies in the electric car industry, we have faced many economic factors in the market and the macroeconomic economy that affected our ability to work,” Steve Jersaki, CEO of Nicolas, said in a statement on Wednesday. “Unfortunately, our best efforts were not enough to overcome these important challenges.”