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.

Nikola, a Phoenix, Arizona-headquartered EV maker, filed for Chapter 11 bankruptcy due to monetary concerns and being a part of a struggling market.

Electric vehicle startup Nikola filed for Chapter 11 bankruptcy on Wednesday and plans to move forward with an auction of its assets, pending court approval.