Nikola Hydrogen Trucks Up for Auction After Bankruptcy

Nikola Hydrogen Trucks Hit the Auction Block

After filing for bankruptcy in February, Nikola is auctioning off its hydrogen truck assets. Gordon Brothers, an auction house, secured an agreement with Nikola in Delaware bankruptcy court to purchase and sell the assets.

The auction listing and a detailed brochure from Gordon Brothers reveal the extent of the sale. The assets, valued at approximately $114 million, include:

• 103 completed hydrogen fuel cell trucks
• Spare batteries, tires, and other components
• Hydrogen storage, refueling, and testing equipment (some brand new)

This auction follows Lucid Motors' recent purchase of Nikola's Arizona manufacturing facility and headquarters. As part of that deal, Lucid also hired around 300 Nikola employees.

The auction comes at a challenging time for hydrogen fuel cell technology. Its viability as a mainstream fuel source remains uncertain. Furthermore, proposed policy changes, such as House Republicans' efforts to repeal hydrogen power subsidies enacted under the Biden administration, add further headwinds to the industry.

For more information, see the auction listing and the asset brochure.