Nikola founder Trevor Milton, recently pardoned after a high-profile securities fraud conviction, is now making headlines again—this time for attempting to buy back assets from his former electric vehicle company, which recently filed for Chapter 11 bankruptcy protection.https://www.bizjournals.com/phoenix/news/2025/04/03/nikola-trevor-milton-bankruptcy-bid-process.html
According to newly released court filings and sources close to the matter, Milton is actively pursuing the bankrupt startup’s assets, aiming to reclaim control of the company he once led. Nikola filed for bankruptcy in February 2025, citing financial instability and plans to sell off its business by mid-April.
However, Milton’s comeback bid hasn’t been welcomed with open arms. Documents reveal that the company denied him access to personally inspect the assets at its Coolidge, Arizona, factory—suggesting ongoing tension between Milton and Nikola’s current leadership. The Phoenix Business Journal previously reported on this denied inspection, further fueling speculation around Milton’s true intentions.
This attempted acquisition marks a dramatic twist in the Nikola saga. Once hailed as a rising star in the EV industry, the company has faced ongoing scrutiny following Milton’s fraud conviction, subsequent resignation, and now, a bankruptcy sale that could reshape its future.https://youtu.be/mpBE-2zhHFY?si=OlEQu9IXKlnsQeiz
Whether Milton’s bid is successful remains uncertain, but one thing is clear: the Nikola Founder is not backing down from the company he helped build—even from the sidelines.
