Nikola follows Canoo and Fisker into bankruptcy. Rivian continues to hold on, despite massive losses and taxpayer support, but it's losses mount every quarter.

After struggling to raise cash and undergoing several leadership changes, the electric semi truck maker Nikola filed for bankruptcy Wednesday.

Nikola said Wednesday it had filed for Chapter 11 bankruptcy protection and would pursue a sale of all or most of its assets, after grappling with rapid cash burn and struggling to raise funds in the past few quarters.