Nikola right down to a single worker

Nikola’s story of fraud, deception, and political intrigue is nearly over – the bankrupt firm that promised a revolution in hydrogen- and battery-powered heavy trucking has seen its workforce shrink from 874 to a single remaining worker.

In accordance with a report from the US Chapter Court docket for the District of Delaware dated December 22, Nikola reported no gross sales and 0 income for the month of November, shedding about $1.6 million. The report additionally confirmed that the corporate’s job roll has been lowered to a single worker following its February 2025 chapter submitting: liquidating trustee Thomas Pitta.

The November losses push the corporate’s whole losses since coming into chapter again in February to greater than $556 million.

“The steadiness sheet reveals that Nikola is deeply bancrupt, with a adverse internet price of about $172 million,” writes Jay Traugott at Business Clear Trucking. “The corporate has roughly $124 million in belongings however about $296 million in whole money owed. Most of that debt (about $272 million) comes from unsecured obligations incurred earlier than the chapter submitting.”

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Traugott additionally reviews that what’s left of Nikola is promoting off its remaining belongings at a speedy tempo, bringing in a complete of about $38.8 million from a quantity sources that embrace:

In the meantime, Nikola continues to be ready to obtain an arbitration award of round $100 million it holds towards its controversial founder and former CEO, the lately pardoned Trevor Miltonalthough the possibilities of the corporate really seeing any of that cash appears fairly low.

Electrek’s Take

As for what Nikola’s failure means for the electrical freight and trucking industries as-a-whole, I can’t think about it issues a lot as the remainder of the world continues their push to impress and deployed fleets from the likes of Volvo Vehicles, Renaultand even comparatively tiny Motiv log tens of millions of buyer miles, and increasingly high-powered DC charging stations roll out onto highways within the US and overseas.

In different phrases: the long run seems to be vivid for zero-emission trucking, even when Trevor’s outdated dream of raking in billions together with his gravity-powered demo truck didn’t go anyplace.

SOURCE: Clear Trucking.

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