Lucid Wins Nikola Bankruptcy Auction, Buys Nikola Facilities for $30 Million To Boost US EV Production

Lucid committed adjacent to $30 cardinal successful currency and non-cash considerations successful speech for the factory, Nikola's lease connected its Phoenix headquarters, and "certain machinery, instrumentality and inventory," arsenic per a Thursday nighttime court filing.

Tesla Inc (NASDAQ:TSLA) rival Lucid volition instrumentality implicit Nikola's former Coolidge manufacturing installation (680 E Houser Rd, Coolidge, AZ) and the Phoenix facility (4141 E Broadway Rd, Phoenix, AZ) antecedently utilized arsenic Nikola's office and merchandise improvement center.

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These buildings adhd much than 884,000 quadrate feet to Lucid's Arizona footprint. Most of this abstraction comprises state-of-the-art manufacturing and warehousing buildings, which executes against Lucid's anterior planned enlargement in Arizona.

These facilities see improvement instrumentality with extended artillery and biology investigating chambers, a full-size chassis dynamometer, machining equipment, and more.

The woody is taxable to support by the U.S. Bankruptcy Court for the District of Delaware.

The woody does not see acquiring Nikola's business, lawsuit base, oregon exertion related to Nikola's hydrogen substance compartment electrical trucks.

Additionally, Lucid plans to connection employment to much than 300 erstwhile Nikola employees successful roles crossed Lucid's Arizona facilities.

These offers volition encompass assorted method salaried and hourly positions, including manufacturing engineering, software, assembly, conveyance testing, and warehouse support. Lucid welcomes employees with beardown backgrounds successful EV exertion and further supports its section community.

Nikola's bankruptcy auction concluded on April 10, 2025, arsenic portion of its filing for Chapter 11 bankruptcy relief. Nikola's troubles began backmost successful 2020 erstwhile short-seller Hindenburg accused it of fraud, followed by the conviction of erstwhile CEO Trevor Milton for lying astir the company.

Hindenburg highlighted Nikola's video titled "Nikola One successful Motion," alleging that the institution towed the motortruck to the apical of a elevation and released it alternatively of being driven astatine precocious speed.

In December 2023, Milton was convicted of fraud aft a assemblage recovered he had lied persistently astir the company. The consequent probe led to Milton's condemnation connected fraud charges successful 2022 and a four-year situation sentence.