Once an EV startup darling, Nikola Corporation filed for bankruptcy, ending any chance for the Nikola Badger midsize truck to come to market. Here’s what we know about the Nikola bankruptcy filings. Hint: It’s not much.
Nikola files for bankruptcy
It has been a turbulent journey for Nikola over the past few years with the founder going to prison for fraud, cycling through CEOs and meager sales all leading to the eventual Chapter 11 filing.
According to a Reuters story, Nikola plans to sell off all assets and close its doors.
Nikola joins other EV startups that filed for bankruptcy, including Fisker, Proterra and Lordstown Motors, which have all faltered on flagging demand for electric vehicles and capital funding issues.
Badger midsize truck
While Nikola was focusing on its semi truck EV business, it did tease a pretty cool looking midsize electric truck called the Badger.
The idea was for GM to build the Badger as part of GM getting an equity stake in Nikola.
GM and Nikola revised this agreement in 2020 and the Badger was killed off. However, fans still held out hope another automaker would build it.
The Badger was planned to be a hydrogen fuel cell midsize truck with 600 miles of range and 906 horsepower and 980 pound-feet of torque.
It would have been pricey with estimated starting price of $60,000 to 80,000 according to Car and Driver.
Our take on the Nikola bankruptcy
Another EV startup bites the dust. This is expected with the numerous startups that all came to market around the same time. With slower adoption, Nikola likely won’t be the last EV company to face significant issues moving forward.
