An electric truck-maker that sought to rival Elon Musk’s Tesla has filed for bankruptcy in the US after its founder was sent to prison for fraud.
Nikola, which developed hydrogen fuel and battery-powered trucks, was once valued at more than $30bn (£24bn), but its share price collapsed just months after it went public in 2020 amid claims it was misleading investors.
Didn’t know that wreck was still staggering on.
This was the one that showed off its new H2 powered truck in a video. By pushing an empty chassis – sans engine of any sort – down a hill.
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