Shares of Nikola, a battery and hydrogen fuel-cell-powered truck maker, plunged after the company announced on Wednesday that it and its subsidiaries have filed for Chapter 11 bankruptcy protection. “Like other companies in the electric-vehicle industry,

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

The company, which once enjoyed a surging stock price, struggled to turn its plans for electric and hydrogen trucks into a viable business.