EV Truck Maker Files for Bankruptcy

Douglas McIntyre, Editor-in-Chief at Climate Crisis 24/7, reports that Nikola, an electric truck startup once valued at over $30 billion, has filed for bankruptcy. The company struggled to sell its vehicles and technology, leading to a collapse in share prices. This raises concerns that other EV startups, particularly Lucid Motors, could face the same fate. While Tesla remains profitable, and automakers like GM and Ford have the resources to sustain short-term losses, smaller companies may not survive as the EV industry contracts.