Nikola’s hydrogen-powered trucks are officially up for auction, marking one of the company’s final steps in liquidating its remaining assets following its bankruptcy declaration in February.
Auction firm Gordon Brothers secured a deal with Nikola in Delaware bankruptcy court late last week to acquire the company’s hydrogen transportation assets. Over the weekend, the auction house released an inventory list along with a detailed sales brochure, highlighting approximately $114 million worth of equipment. The collection includes 103 fully assembled hydrogen fuel cell-powered trucks and an assortment of spare batteries, tires, raw materials, and other key components. Moreover, Nikola’s hydrogen storage systems, fueling stations, and nearly new testing equipment are also part of the available assets.
This sales process comes a little over a month after electric-vehicle startup Lucid Motors successfully acquired Nikola’s manufacturing plant and headquarters in Arizona, a deal that saw Lucid hire around 300 of Nikola’s former employees in exchange for a mix of cash and other considerations totaling about $30 million.
Gordon Brothers’ auction of Nikola’s hydrogen assets faces significant timing challenges. The market for hydrogen fuel technology has struggled to mature into widespread commercial viability, and new obstacles have emerged on the policy front. Recently, House Republicans have undertaken efforts aimed at dismantling key hydrogen-related funding initiatives established during President Biden’s administration. This move is part of a broader campaign seeking to roll back elements of Biden’s climate agenda.
