Nikola’s hydrogen trucks hit the auction block

Nikola’s hydrogen trucks are officially available for auction, marking one of the company’s final efforts to liquidate its assets following its bankruptcy filing in February.
Auction house Gordon Brothers reached an arrangement with Nikola in Delaware bankruptcy court to acquire the hydrogen trucking assets late last week. Shortly after, Gordon Brothers released a listing and brochure detailing the items for sale.
The auction house estimates the auctioned hydrogen assets are worth approximately $114 million, which includes 103 completed hydrogen fuel cell-powered trucks, along with spare batteries, tires, and various components. Additionally, Gordon Brothers is auctioning Nikola’s hydrogen storage, refueling, and testing equipment, with some items still in brand new condition.
This auction comes shortly after EV startup Lucid Motors unexpectedly acquired Nikola’s manufacturing facility and headquarters in Arizona, also agreeing to retain around 300 Nikola employees as part of the deal for approximately $30 million in cash and other considerations.
Gordon Brothers is set to auction these assets during a challenging time for hydrogen as a fuel source, which has struggled to gain traction. The technology is also facing new challenges, as House Republicans seek to roll back financial support for hydrogen power established under former President Biden, part of a broader effort to dismantle his climate initiatives.