Nikola battles for scarce funding as it launches its first truck
Like every other startup, Nikola is in search of funds to continue its mission to deliver zero-pollution cargo-moving trucks. Last week, it floated a $100 million stock offering that underwhelmed Wall Street.
The company’s cash is being spent in three major areas: building trucks, creating a network of hydrogen fueling stations and developing software for autonomous driving. Any one of those pursuits would be a huge project for a startup. Perfecting all three seems like a moonshot.
But Lohscheller has been able to sign up partners to help defray some of the costs. And thanks to the Inflation Reduction Act,…
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