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Nikola's share price has declined 87% over the past year, and declined 50% over the past three months alone. Much of that was driven by the company overpromising and drastically underdelivering.
The EV truck company's stock is trading down over 99% from its peak price.
Nikola now has a cash balance of just $47m, but debts of over $350m. The company has tried “to raise capital, reduce our liabilities, clean up our balance sheet and preserve cash to sustain our ...
2014 - Hyundai ix35 FCEV — Leased in South Korea, California, Europe and Vancouver (sometimes referred to as the "Tucson"). And Hyundai claimed 'World's first mass production FCEV'. 2016 - 2021 Honda Clarity Fuel Cell — Marketed in Japan, Southern California, Europe. [11] [12] Total sales 1,900 vehicles. [13]
Nikola Corporation (formerly known as Nikola Motor Company) is an American manufacturer of heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions. [2] It presented several concept vehicles from 2016 to 2020, the first of which was a natural gas fueled turbine-electric semi truck. [3]
The Nikola Tre battery electric Class 8 truck. The Phoenix-based company's stock prices soon began to plunge as doubts emerged about the viability of its technology.
A fuel cell vehicle (FCV) or fuel cell electric vehicle (FCEV) is an electric vehicle that uses a fuel cell, sometimes in combination with a small battery or supercapacitor, to power its onboard electric motor. Fuel cells in vehicles generate electricity generally using oxygen from the air and compressed hydrogen.
The electric vehicle maker Nikola has filed for Chapter 11 bankruptcy protection, it said Wednesday. Executives said in October the EV maker had enough cash to operate only until 2025's first quarter.