Troubled electric vehicle maker Nikola files for bankruptcy protection

Troubled electric vehicle maker Nikola is filing for for Chapter 11 bankruptcy protection. The company, once a rising star on Wall Street, became enmeshed in scandal and its founder was convicted in 2022 for misleading investors about its capabilities. Nikola filed in the United States Bankruptcy Court for the District of Delaware and said Wednesday that it has also filed a motion seeking approval to pursue an auction and sale of the business.