Nikola is auctioning off its hydrogen truck assets, valued at $114 million, including 103 finished trucks and related equipment, following its bankruptcy in February. Gordon Brothers, the auction house managing the sale, has begun listing these assets, which come at a challenging time for hydrogen technology. Meanwhile, Lucid Motors recently acquired Nikola's manufacturing facility, taking on some employees, signaling a shift in the market landscape as the industry grapples with financial and regulatory pressures on hydrogen as a fuel source.
Nikola's hydrogen trucks are officially up for auction, one of the company's last big steps in unloading all of its assets after filing for bankruptcy in February.
Gordon Brothers reached an agreement with Nikola in Delaware bankruptcy court to purchase the hydrogen trucking assets late last week.
The auction house says it has around $114 million worth of hydrogen trucks, raw material, and sub-assemblies.
The hydrogen assets are hitting the market a little more than a month after EV startup Lucid Motors emerged as the surprise buyer of Nikola's Arizona manufacturing facility.
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