05:06 PM EST, 01/23/2025 (MT Newswires) -- Nikola ( NKLA ) is exploring options, including potentially selling parts or all of the company, to avoid a cash crunch, Bloomberg reported Thursday, citing people familiar with the matter.

Other possibilities under consideration are partnerships or raising funds, the news report said. The management has not decided on any options and may not to take action, the news report said.

The company told Bloomberg that it has been working to raise capital and reduce its liabilities despite headwinds in the electric vehicles industry.

Nikola ( NKLA ) did not immediately respond to a request for comment from MT Newswires.

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