“The future of electric cars is foggy. Prospective American startup for the production of electric and hydrogen trucks became bankrupt on February 20, 21:37 to share: despite significant financial infusions, the level of production remained insufficient to go for self -sufficiency (photo: Nicholas) by Kira Borisikhin Financial Difficulties forced Nikola. electrical and hydrogen commercial trucks, apply for bankruptcy. Also read: “No longer Jesus electric vehicles.””, – WRITE ON: ua.news
Despite significant financial infusions, the level of production remained insufficient to go to self -sufficiency (photo: Nikola)
The financial difficulties forced Nikola, which is engaged in the production of electric and hydrogen commercial trucks, to apply for bankruptcy.
Reuters writes about it.
Over the years of work, many attempts have been made to establish production and strengthen market positions, but lack of funds and insufficient number of cars have not made it possible to achieve financial stability.
Since its foundation, the company sought to introduce advanced technologies, presenting the concepts of electric vehicles and hydrogen vehicles. Initial investments and contracts with large manufacturers created positive expectations for the future, but the implementation of the projects faced a number of obstacles.
Internal changes, court proceedings and a change in the strategic course did not lead to improving the financial situation, which eventually led to the decision to seek bankruptcy protection.
Despite significant financial infusions, the level of production remained insufficient to go to self -sufficiency. At the beginning of the year, there were reports of possible problems with liquidity, which caused the value of the stock. According to court documents, the company has significant debt and limited cash reserves.
Bankruptcy application is only part of a broader trend among startups in the field of electric vehicles. In recent years, several electric transport companies have encountered similar problems and have been forced to stop their activities. Competition, difficult market conditions and the high cost of production have proven to be serious barriers to new industry participants who seek to introduce innovative technologies into commercial transport.