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3mo ago

Nikola's Hydrogen Trucks and Assets Hit Auction Block Amid Liquidation

Gordon Brothers begins auctioning 103 Nikola Tre FCEV trucks and other assets, targeting $114 million in proceeds as the startup winds down.

Undated hand out photo of a Nikola hydrogen fuel cell truck. Nikola Corp., the buzzy electric trucking company, is defending itself against charges of fraud that were made by short-selling firm Hindenburg Research. The allegations came just days after GM announced it was taking an 11 percent stake in the startup. Hindenburg’s report, released September 10th, is titled “How to Parlay an Ocean of Lies into a Partnership with the Largest Auto OEM in America”— a reference to the news that GM was teaming up with Nikola to help engineer and manufacture the startup’s battery-electric and hydrogen fuel cell vehicles. Hindenburg claims that Nikola had engaged in “lies and deception” in showcasing its electric vehicle technology, including staging a video that showed one of its trucks cruising down a hill. Photo via ABACAPRESS.COM
Wasserstoff-Lkw von Nikola stehen zur Versteigerung

Overview

  • Nikola filed for bankruptcy in February 2025 after abandoning efforts to restructure, citing financial challenges and macroeconomic pressures.
  • The auction, managed by Gordon Brothers, includes 103 fully functional Nikola Tre hydrogen fuel cell trucks, fuel cell stacks, batteries, and hydrogen station equipment.
  • The liquidation aims to generate $114 million, marking one of the final steps in Nikola's dissolution process.
  • Lucid Motors previously acquired Nikola's Arizona production facility, headquarters, and R&D center for $30 million, retaining around 300 employees.
  • The auction highlights the broader struggles of scaling hydrogen technology in the heavy-duty transport sector, with limited infrastructure and adoption hurdles.