Troubled electric truck maker Nikola files for bankruptcy
1. Nikola Corp. filed for Chapter 11 bankruptcy protection after funding failures. 2. The company has about $47 million in cash for bankruptcy processes. 3. Nikola plans to auction its assets, including hydrogen fuel cell trucks. 4. Scandals involving founder Trevor Milton led to a significant decline in value. 5. Nikola aims to secure buyers independent of its debts during the auction.