EV maker Nikola exploring options including potential sale, Bloomberg News reports

Published: 2025-01-23 16:00:23 ET NKLA

(Reuters) - EV maker Nikola is exploring options including selling parts of its business or the entire company as it struggles with a cash crunch, Bloomberg News reported on Thursday.

The company's shares slumped 28% in late-afternoon trading.

Possibilities under consideration also include bringing on partners or raising new funds, the report said, citing people familiar with the matter.

Nikola did not immediately respond to a Reuters request for comment.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Sriraj Kalluvila)