Transportation
EV Maker Nikola Explores Sale, Partnerships With Cash Dwindling
- Company says it’s working ‘relentlessly’ to raise capital
- Big rig manufacturer has faced weak sales, declining stock
A Nikola Tre battery-electric heavy duty truck.
Photographer: Andreas Gebert/BloombergThis article is for subscribers only.
Nikola Corp. is exploring options to stave off a cash crunch, including potentially selling parts or all of the company, according to people familiar with the matter.
Other possibilities under consideration include bringing on partners or raising new funds, said the people, who asked not to be identified discussing the private effort. No decisions have been made and management could decide not to take action.