US truck maker Nikola’s hydrogen-powered fleet has been put up for auction, valued at over $114m (£84.5m).
The company filed for Chapter 11 bankruptcy in February, citing financial difficulties and a need for a structured sale process.
Gordon Brothers auction house has now agreed a deal to buy the manufacturer’s unsold lorries, as well as machinery and inventory related to Nikola’s hydrogen business.
The sale includes assets located at its manufacturing facility in Coolidge, Arizona; the HyFASST facility in Phoenix and support equipment in Arizona, California and Ontario.
This includes 103 Class 8 hydrogen fuel cell trucks, lithium cells, batteries, tyres, air compressors and axles.
The auction will also include a hydrogen facility for advanced storage systems testing and associated assets – valued at over $7m, plus brand new and never used HYLA stationary hydrogen refuelling equipment.
In April, electric car builder Lucid purchased Nikola’s Arizona HQ, production facility and development centre for $30m.
At the time of its bankruptcy, Nikola’s chief executive Steve Girsky explained: “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate.
“In recent months, we have taken numerous actions to raise capital, reduce our liabilities, clean up our balance sheet and preserve cash to sustain our operations.
“Unfortunately, our very best efforts have not been enough to overcome these significant challenges.”
