Hyperdrive
Nikola and Arrival Add to Pileup of Setbacks for EV Startups
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Truck manufacturer Nikola Corp. and delivery-van maker Arrival added to a series of misfortunes for electric-vehicle startups struggling to make it to mass production.
Nikola disclosed late Monday that it transfered ownership of Romeo Power Inc., the battery supplier it acquired less than a year ago, to a company that will handle selling or liquidating its assets.