(Reuters) – EV maker Nikola (NASDAQ:) 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.
