December 18, 2024 4:50 pm
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Nikola sets layoffs, seeks immediate capital

By Amy Edelen | Phoenix Business Journal

Nikola Corp. has laid off an unspecified number of workers as the Phoenix electric semitruck maker seeks to raise more capital to meet its financial obligations.

Nikola (Nasdaq: NKLA) said in a Dec. 9 regulatory filing it’s lacking capital to sustain forecasted operating costs through the first quarter of 2025. As a result, the company is immediately seeking to raise up to $100 million through a common stock sale to continue business operations, battery electric truck manufacturing and rollout of its hydrogen refueling stations.

Read the full subscription story from the Phoenix Business Journal.

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Goodyear approves land purchase

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