(Reuters) -EV maker Nikola is exploring choices together with promoting portions of its industry or all of the corporate because it struggles with a money crunch, Bloomberg Information reported on Thursday. The corporate’s stocks slumped 28% in late-afternoon buying and selling. Chances into account additionally come with bringing on companions or elevating new price range, the document stated, bringing up folks conversant in the subject. Nikola didn’t right away reply to a Reuters request for remark. The corporate has been grappling with prime prices associated with the manufacturing ramp up of its fuel-cell electrical truck. Its money and money equivalents had fallen sharply to $198.3 million on the finish of September, when compared with $464.7 million on the finish of ultimate yr. Nikola’s stocks misplaced just about 96% in their price in 2024. CEO Stephen Girsky, in line with questions on elevating capital right through an investor name in October, stated the corporate was once “actively chatting with numerous doable other companions.” (Reporting by way of Arsheeya Bajwa in Bengaluru; Enhancing by way of Sriraj Kalluvila and Shailesh Kuber)
