Scandal-ridden Nikola — known for its electric semi-trucks — files for bankruptcy

1. Nikola filed for Chapter 11 bankruptcy after struggling with cash flow and demand. 2. The company plans an auction to sell its assets amid ongoing financial challenges. 3. Nikola's stock fell 40% post-bankruptcy announcement, reflecting investor concerns. 4. Inadequate EV infrastructure and high costs impact the entire electric vehicle sector. 5. Nikola has produced only 600 trucks since 2022, falling short of expectations.