Nikola Corp., once hailed as a rising star in the electric vehicle industry, has filed for Chapter 11 bankruptcy protection, marking the end of a dramatic rise and fall. The company, which once boasted a market valuation higher than Ford’s,

Nikola, a Phoenix-based manufacturer of zero-emissions trucks, announced it will pursue an auction and sale process for its assets as it grapples with ongoing financial difficulties. The post Nikola files for Chapter 11 bankruptcy protection appeared first on FreightWaves.

At one time Nikola was valued at more than GM or Ford; now it doesn't have enough cash to help its few existing customers get back on the road.