Cracking into the trucking business is no easy feat, just ask Nikola. Not only was its founder and former CEO Trevor Milton convicted of fraud in 2022 and sentenced to four years in prison, but the company has so far failed to make a positive name for itself – despite spending years developing some interesting electric trucks. Now, it’s being reported that parts or all of Nikola could be sold.
Unnamed sources tell Bloomberg that Nikola is in financial trouble and needs a savior. While a final decision has yet to be made by management, it’s possible the company could be sold, or it may need to bring on new partners. It’s also possible it could be forced to raise new funds.
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