Nikola, the much-hyped hydrogen-truck maker that was briefly valued more than Ford Motor, is nearing a bankruptcy filing, according to people familiar with the matter.
Phoenix-based Nikola has been working with its law firm Pillsbury Winthrop Shaw Pittman to explore options that could include a sale or restructuring of the company in bankruptcy, the people said.
A representative for Nikola said the company continues to assess its financial position and liquidity needs, and is evaluating a number of options including financing as part of a financial restructuring.
