India, Feb. 19 -- US-based electric truck maker Nikola and some of its subsidiaries have filed for Chapter 11 bankruptcy in the US. The company has also filed a motion seeking authorisation to pursue an auction and sale process of the company's assets.

The company has multiple customary motions to ensure its limited operations continue during the sale process. The company is also aiming to continue operating some non-dealer service and support operations till March 2025 for its trucks that are currently in use. After March, Nikola said it will need partners to support such activities and look after its existing customers.

Nikola currently holds about $47 million in cash to fund foregoing activities, implement post-petition sale process ...