Nikola in need of new source of money to continue its business
Media reports say that the manufacturer has got the money to survive no longer than one quarter in 2025. Nikola managed to sell something like 200 hydrogen fuel cell trucks in the first 3 quarters of the year. At the same time, the company has been facing trouble for quite a long time, with the need to reduce the current workforce in Autumn, this year. Further cuts may arrive soon.
In the end, Nikola seems to be running out of money. The Arizona-based electric and hydrogen-powered truck manufacturer may need new source of money to go on with its business and meet its target. As we wrote here, Nikola managed to sell something like 200 hydrogen fuel cell trucks in the first 3 quarters of the year. At the same time, the company has been facing trouble for quite a long time, with the need to reduce the current workforce in Autumn, this year. Further cuts may arrive soon.
Nikola is looking for fresh money
Media reports say that the manufacturer has got the money to survive no longer than one quarter in 2025. Nikola is still paying an expensive 125 million dollar settlement following the well-known affair involving former CEO Trevor Milton, brought into court for lying to his stakeholders about the company’s technology. Then, in 2023, Nikola and IVECO terminated their agreement, with the former focusing its business only on the North American market, and on hydrogen fuel cell trucks. The next few weeks seem to be decisive to figure out what may happen to Nikola.
