Nikola Corp., once a shining star in the electric vehicle industry, has filed for bankruptcy protection. Burdened by sluggish sales, fraud scandals, and frequent executive shuffles, the company has ultimately succumbed to financial ruin. Nikola has initiated Chapter 11 bankruptcy proceedings in Delaware, aiming to liquidate its assets. According to court documents, Nikola's listed assets are valued between $500 million and $1 billion, while its liabilities range from $1 billion to $10 billion.
