Tesla's rival EV maker Nikola goes bankrupt
Nikola, the American electric truck maker once considered a rival to Elon Musk's Tesla, has filed for Chapter 11 bankruptcy protection and would pursue a sale of its assets. "We have faced various market and macroeconomic factors that have impacted our ability to operate," Nikola's CEO Steve Girsky said. Founded more than a decade ago, Nikola went public in 2020.