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Nikola Corp. is exploring options to stave off a cash crunch, including potentially selling part or all of the company, according to people familiar with the matter.

Nikola Corporation, a global leader in zero-emissions transportation and energy supply and infrastructure solutions, released their first-ever sustainability impact report. Nikola’s 2023 Sustainability Impact Report covers environmental and social impacts, reporting, and progress towards Nikola’s sustainability priorities.

Truck maker Nikola recently reduced staffing levels as it seeks to control costs.

Hydrogen fuel cell electric vehicles may be envisioned as the future workhorse of a decarbonized longhaul freight sector, but their development has proceeded at a measured pace.

Losses at truck maker Nikola more than halved year on year in the third quarter as a result of record sales, cost cutting and the absence of expenses incurred in the year-ago period.

“Despite overall market headwinds, Nikola remains focused on our mission to pioneer solutions for a zero-emission world, and we’re doing it one truck at a time,” CEO Steve Girsky said.

Polestar named Michael Lohscheller its new CEO as the electric vehicle maker seeks to stem deepening losses and fix ongoing operational problems.

Nikola Corp. reported a 103% revenue increase but wider losses in the second quarter as electric vehicle sales gained momentum, the company announced Aug. 9.

Losses at Nikola in the first quarter narrowed year-over-year, and executives are more bullish than in previous quarters about the truck maker’s prospects even as production costs soar.

Nikola Corp. produced 43 and wholesaled 40 Class 8 hydrogen fuel cell electric vehicles in the first quarter of 2024, the truck maker said.