At the time, the firm generated great expectations in the electric and hydrogen vehicles market. Now it adds to the list of companies that failed to consolidate in a highly competitive and demanding sector.
Nikola Corporationonce considered a potential rival of Tesla In the sector of the electric and hydrogen vehicles, A stock market collapse crosses on Tuesday that led her to declare in bankruptcy under the Chapter 11 in USA Its market value, which reached U $ 29,000 million On the nearby days, he fell to less than US $ 100 million before the definitive collapse.
The actions of Nikola Corp (Nasdq) a 39.1% in Wall Streetwhich configures a new minimum of 52 weeks of just 0.4662 dollars and a reduced stock capitalization to U $ 39.33 million. The company was severely punished by the market, with a fall in 96.5% in the last yearreflecting the growing uncertainty about its financial viability.
Expert analysis qualifies Nikola’s financial health as weakwith alarming indicators as a gross margin of -281% and a high cash burning. Currently, the company quotes 0.17 times its accounting valuewith a debital debt relationship of 0.93which shows its fragility in the current economic environment.
Bankruptcy and asset settlement
Given the impossibility of sustaining their operations, Nikola started a bankruptcy processwith the intention of auctioning their assets through a process supervised by the court. With just US47 million in cashthe company faces difficulties to stay afloat, despite its attempts to raise capital and reduce liabilities.
Electric vehicles: The future of sustainable mobility
The CEO Steve Torsky He has highlighted some milestones reached by the company, such as the development of its class 8 hydrogen fuel cell and the expansion of hydrogen recharge infrastructure under the brand Hyla. Despite these advances, Nikola has failed to reverse his financial crisis.
As part of its strategy to strengthen its presence in the hydrogen sector, the company has announced the opening of a new replenishment station in West Sacramento, Californiascheduled for January 2025. However, the viability of these plans is questioned, given the complicated financial panorama faced by the company.
Nikola, which at the time generated great expectations in the electric and hydrogen truck market, now adds to the list of companies that failed to consolidate in a highly competitive and demanding sector. Uncertainty about their future persists, while investors evaluate the outcome of their bankruptcy process.
Source: Ambito
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