Nikola And Hyzon Are Now In A Struggle To Survive

Summary:

  • Nikola Corporation and Hyzon Motors Inc. kickstarted 2023 with uncertainty over their respective futures.
  • Both FCEV truck companies have suffered huge drawdowns over the last 12 months and are trading closer to Nasdaq’s $1 minimum listing requirement.
  • Whilst they both stand to benefit from significant government support, their respective liquidity positions are fast falling.

view of a modern hydrogen refueling station for hydrogen cars with a large parking lot and located on the outskirts of a city.

Aranga87/iStock via Getty Images

Nikola Corporation (NASDAQ:NKLA) slipped 10% last week Friday following its disclosure of a securities purchase agreement to sell up to $125 million in senior convertible notes. The Form 8-K provides more information on what looks


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