Nikola files for bankruptcy, seeks to wind down operations

Nikola filed for Chapter 11 bankruptcy protection Tuesday to sell off its assets and wind down operations, according to a securities filing and news release.

The hydrogen and electric truck manufacturer had explored other alternatives for months, the company said. But “various market and macroeconomic factors” disrupted the business, President and CEO Steve Girsky said in the announcement.

Nikola hopes to continue certain limited service to “support operations for trucks currently in the field, including certain HYLA fueling operations through the e…