The company says it will focus on commercialising its ‘Solar Bus Kit’, which (despite the name) is intended for trucks and trailers as well as buses.

Nikola claims that the nominees were put forward by an entity controlled by company founder Trevor Milton, who was sentenced late last year on one count of securities fraud and two counts of wire fraud while acting as Executive Chairman of Nikola.

T&BB has been in contact with the accounting firm, Ernst & Young (EY) who is handling the administration process.

Valued at GBP 9 billion just three years ago, it has been a tumultuous time for the OEM, whose shares were delisted from the Nasdaq stock market on January 30, 2024, due to non-compliance. With 400 jobs at risk, the business will now look to sell off any and every asset it can, in order to pay back its creditors.

Arrival confirmed that it had received a stock trading suspension notice from the Nasdaq Stock Market LLC on January 26. The news sent the company’s share price down 15% on Monday the 29th of January with trading completely suspended on January 30, 2024.

YA II PN Ltd, a hedge fund managed by Yorkville Advisors, has agreed to invest an undisclosed sum in Sono Motors in order to keep it solvent until at least the end of 2024.

According to a Reuters report, 93% of 3,900 union members working at Mack Trucks voted to accept the deal.

In a statement dated 29 November, Tevva announced that both parties have “mutually determined that it is in their best interests to privately and amicably resolve any legal disputes concerning the merger agreement.”

The British startup manufacturer of electric trucks has issued a repudiation of ElectraMeccanica’s allegations and has announced its intention to take legal action.

On 8 October, the United Auto Workers announced that its members voted to reject an agreement between the union and Mack Trucks.

The American manufacturer also stated its intention to “explore all legal recourse available” in connection with Tevva’s alleged breaches of the agreement.

A Reuters report yesterday announced that the Swedish-based electric vehicle startup has decided to file for bankruptcy in its home country.