EV maker Nikola (NKLA.O) is exploring sale options or partnerships as it deals with a cash crunch. Its shares fell 28% in late trading, and its cash reserves dropped to $198.3 million at the end of September from $464.7 million at year-end 2023. The company’s electric-truck production costs remain high. CEO Stephen Girsky mentioned talks about raising capital during an investor call. Nikola lost nearly 96% of its value in 2024 as it grapples with these challenges.
Source: https://www.reuters.com/business/autos-transportation/ev-maker-nikola-exploring-options-including-potential-sale-bloomberg-news-2025-01-23