Nikola Explores Sale and Partnerships as Financial Troubles Deepen

The EV maker faces a cash crunch with limited runway, leadership exits, and plummeting stock prices.

Nikola is reportedly considering selling parts or all of its business, forming partnerships, or raising new funds to address its financial challenges.
The company’s cash reserves, reported at $198 million at the end of Q3 2024, are projected to last only through the first quarter of 2025.
CEO Stephen Girsky is reportedly leaving the company, while the head of its Canadian operations, Jorg Wimbert, has also departed, hinting at broader leadership instability.
Nikola’s stock dropped to a record low of $0.76 before partially recovering, reflecting investor concerns over its financial viability.
The EV maker has removed all job listings and has not yet reported its Q4 production and sales figures, further fueling uncertainty about its future.