Nikola Corporation’s hydrogen trucks have been officially put up for auction, marking a significant step in the company’s asset liquidation following its bankruptcy filing in February. The auction is being facilitated by Gordon Brothers after they reached an agreement with Nikola in a Delaware bankruptcy court.
Over the weekend, Gordon Brothers released a catalogue detailing the assets available for bidding. The total valuation of these hydrogen trucking assets is approximately $114 million, which includes 103 completed hydrogen fuel cell trucks, spare batteries, tyres, and various components. Additionally, the auction features Nikola’s hydrogen storage, refuelling, and testing equipment, with some items being unused.
This auction comes shortly after Lucid Motors unexpectedly acquired Nikola’s manufacturing plant and headquarters in Arizona, along with the commitment to employ around 300 former Nikola staff, in a deal valued at about $30 million that included both cash and non-cash components.
Gordon Brothers now faces the challenge of auctioning these assets during a time when the hydrogen sector is grappling with legitimacy as a fuel alternative. Furthermore, the industry is encountering new challenges as House Republicans are attempting to revoke the hydrogen tax credits established by former President Biden, part of broader efforts to dismantle his climate initiatives.
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