A court hearing on the sale of bankrupt electric truck startup Nikola’s assets to Lucid Motors was going smoothly on Friday. No objections had been filed to the transaction, and Delaware bankruptcy Judge Thomas Horan verbally approved it without hesitation. Until, that is, a lawyer piped up on the Zoom call towards the end of…
Category: Nikola
electric vehicles, EVs, Global Security News, Lucid Motors, Nikola, Transportation
Lucid Motors wins bankruptcy auction for Nikola’s Arizona factory and other assets
EV startup Lucid Motors has emerged as a surprise winner in the bankruptcy auction for electric trucking company Nikola’s Arizona factory and other assets, according a late Thursday court filing. Lucid committed around $30 million in cash and non-cash considerations in exchange for the factory, Nikola’s lease on its Phoenix headquarters, and “certain machinery, equipment…
electric vehicles, EVs, Exclusive, Global Security News, Nikola, Transportation, Trevor Milton
Nikola founder Trevor Milton wants to buy the bankrupt startup’s assets
Nikola founder Trevor Milton, who was recently pardoned after being convicted of securities fraud, is trying to buy the assets of his former company out of bankruptcy, according to new court filings and a person familiar with the matter. Nikola filed for Chapter 11 bankruptcy protection in February and has said it hopes to sell…
Donald Trump, electric vehicles, EVs, Global IT News, Global Security News, Nikola, Transportation, Trevor Milton
Nikola founder Trevor Milton pardoned by Trump
Trevor Milton, the founder of bankrupt hydrogen trucking startup Nikola who was convicted of fraud, has been pardoned by President Trump, the White House confirmed to TechCrunch. Milton was convicted in October 2022 of one count of securities fraud and two counts of wire fraud related to claims he made about Nikola’s progress to investors. He was…
electric vehicles, EVs, Global IT News, Global Security News, Nikola, Transportation
Bankrupt Nikola wants to sell its whole business by April
Electric trucking startup Nikola is hoping to sell what remains of its whole business as early as April, lawyers for the company told a judge Thursday during the first hearing of its bankruptcy case in Delaware. The lawyers claimed Nikola already has at least three interested buyers (who they did not name) and that the…
Global IT News, Global Security News, Nikola, techcrunch mobility, Tesla, Transportation, Waymo
Beta Technologies’ bet on electric flight and Hyundai’s new Tesla charging port comes up short
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! Fifteen years ago, I started writing about a little EV startup that was trying to survive even as others failed in the clean tech boom-and-bust cycle. Back…
Bankruptcy, electric trucks, EV, Global IT News, Global Security News, Nikola, Transportation
Troubled electric truck maker Nikola files for bankruptcy
Hydrogen electric trucking startup Nikola Corp. filed for Chapter 11 bankruptcy protection Wednesday after it failed to find a buyer or secure additional funds to maintain operations. Nikola was once a Silicon Valley darling, valued at $30 billion in June 2020 after it went public through a special purpose acquisition merger. But a series of…
Enterprise, EVs, Global IT News, Global Security News, Hindenburg Research, Nate Anderson, Nikola, short report, short selling, TC
Hindenburg Research, a short seller that targeted tech and EV companies, is closing up shop
When Hindenburg Research posts a blog on its website, it often means a company’s final days are near. Today, that company is Hindenburg Research. Nate Anderson announced Wednesday he has shut down short-selling firm Hindenburg Research, after a seven-year run issuing damning reports about high-profile companies, including many of the technology world’s giants and buzzy…