Nikolaof hydrogen-powered truck inventory is officially up for auction, and here’s what the companyin 2One of the last big moves is to sell all your assets after filing for bankruptcy in March. Auction house Gordon Brothers filed a lawsuit late last week in Delaware Bankruptcy Court againstNikolaReached an agreement to acquire its hydrogen truck assets. Over the weekend, the Gordon Brothers announcedList of assets for saleand a detailed description of all assets for salebrochure.
The auction house said it has about $114 million worth of hydrogen-powered trucks, raw materials and sub-assemblies, including 103 finished hydrogen fuel cell trucks, as well as spare batteries, tires and other components. Gordon Brothers will also auction Nikola's hydrogen storage, refueling and testing equipment, some of which is still brand new.
More than a month ago, electric vehicle startup Lucid Motors unexpectedly acquired Nikola's manufacturing plant and headquarters in Arizona. Lucid Motors also agreed to bring approximately 300 Nikola employees to the company for approximately $3 million in cash and non-cash consideration.
Gordon Brothers will now consider auctioning the assets at a time when hydrogen is struggling to become a viable option as a fuel source. The technology also faces new headwinds. House Republicans are working to undo a bill signed by former President Joe Biden to support financial support for hydrogen, part of a larger effort to undo Biden's entire climate agenda.