Nikola , the galvanizing fomite Godhead which was once deserving more than Ford , file for failure on Wednesday after being ineffective to assure a purchaser .

The caller , which at its top in 2020 was deserving more than $ 30 billion and study a major challenger to Elon Musk ’s Tesla , enjoin wane need , gamy disbursal , and a exit of investor were the independent reason it lodge for failure .

The society ’s ruination hail on the heel of other EV company such as Fisker , Proterra and Lordstown Motors .

After Nikola lodge for failure , its line of descent fall by about 38 pct .

It is now value at only $ 50 million .

The troupe has lean through multiple principal executive director and in 2022 Nikola ’s father , Trevor Milton , was convict of security measures hoax .

The troupe ’s useable hard cash survive from $ 198.3 million in September to just $ 47 million by Wednesday .

# diving event into Ford

Nikola , the electrical fomite God Almighty which was once deserving more than Ford , file for failure on Wednesday after being ineffective to assure a purchaser .

This was the fellowship , which at its bloom in 2020 was deserving more than $ 30 billion and consider a major competition to elon musk ’s tesla , allege wane requirement , gamy expense , and a expiration of investor were the master rationality it register for failure .

The party ’s precipitation number on the heel of other EV troupe such as Fisker , Proterra and Lordstown Motors .

After Nikola register for failure , its descent decrease by about 38 per centum .

It is now esteem at only $ 50 million .

The caller has play through multiple master executive director and in 2022 Nikola ’s laminitis , Trevor Milton , was convict of security measure pseud .

This was the ship’s company ’s usable hard cash fail from $ 198.3 million in september to just $ 47 million by wednesday .