"Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced that the Company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Nikola has also filed a motion seeking authorization to pursue an auction and sale process under Section 363 of the US Bankruptcy Code," says "Nikola" in a Wednesday press release celebrating their global leadership.
Nikola, founded by conservative Mormon entrepreneur Trevor Milton but no longer led by him because he's doing four years in the joint for two counts of wire fraud and one count of securities fraud for lying to investors about the technology and how many preorders had been placed for the trucks, was once a "unicorn" in the space despite being stuck taking famed inventor Nikola Tesla's first name since his last name was already taken, lol. They're now the second American electric truck company born in the era of convicted felon President Trump's "manufacturing is back" bullshit in his first term to turn out to be built on a foundation of lies after the Lordstown Motors failure.