Nikola Corp. is exploring options to keep its business afloat amid bankruptcy speculation.
The Phoenix-based electric truck maker is considering business partnerships, raising additional capital or potentially selling all or parts of its business, Bloomberg reported Thursday, citing people familiar with the matter. No decisions have been made and management could decide not to take action, according to Bloomberg.
A Nikola spokesperson on Friday confirmed Nikola is in the process of evaluating options for its business.
“Despite external headwinds in the EV sector, we have been relentlessly working to raise capital, reduce our liabilities, preserve cash, and provide excellent service for our customers,” Nikola said in a statement to the Business Journal.
