Lucid Motors to Acquire Nikola's Arizona Facilities in $30M Deal

The US company Lucid has acquired the factory of the US manufacturer Nikola Motor and announced a few days ago that it intends to take over more than 300 of its employees. The Arizona factory, along with other facilities and assets, were purchased from the bankruptcy estate. Lucid acquired facilities and assets from Nikola at the bankruptcy auction for the equivalent of almost €26.4 million and additional non-cash contributions. The manufacturer…

Lucid wins Nikola bankruptcy auction - Rose Law Group Reporter

Photo via Nikola Facebook By Paul Thompson | Phoenix Business Journal Lucid Group Inc. has won a bankruptcy auction for Nikola Corp.’s manufacturing facility in Coolidge. The Saudi-backed California luxury electric vehicle company, which already produces vehicles at a massive manufacturing facility in Casa Grande, on April 10 agreed to pay $30 million for Nikola’s Coolidge facility, along with the company’s headquarters lease in Phoenix and othe…

Lucid acquires former Nikola facilities for just $30 million

After Nikola filed for bankruptcy in February this year, the company left some of its facilities and staff in limbo. However, according to industry experts, Lucid has stepped in and acquired key facilities and assets in Arizona for just $30 million, which is quite the bargain. Even though Nikola couldn't gain traction with its truck business, its factories are modern and well-equipped, so Lucid acquiring them is a big win for the EV startup back…

Lucid Motors buys Nikola’s Arizona factory at bankruptcy auction - Charged EVs

It’s an ill wind indeed that doesn’t blow something good someone’s way. Back in 2010, an opportunity to buy a factory in Fremont, California at a bargain-basement price gave a certain EV startup a huge leg up. Now EV pioneer Lucid Motors appears to have pulled off a similar coup, buying an Arizona factory and other assets from bankrupt company Nikola. Lucid laid down some $30 million in cash and non-cash considerations in exchange for the factor…

Californian EV maker Lucid to acquire Nikola's production assets - Sustainable Truck&Van

California-based electric vehicle manufacturer Lucid is about to acquire selected facilities and production assets that belonged to electric and hydrogen truck maker Nikola. The latter was forced to declare banckruptcy in February, suffering from low sales and high costs that impacted on the company’s business. Nikola’s HQs were in Phoenix, Arizona, close to the vehicle production site. More into details, As part of the agreement, Lucid will tak…

To declare bankruptcy is never something that no one is happy about; neither for the company itself, nor for its closest rivals. However, the latter if they can see certain opportunities in these circumstances. In recent years there have been multiple declarations of bankruptcy in companies dedicated to electrification, for one reason or another. Among them they stand out Fisker, Nikola or VanMoof (of electric bicycles). Precisely on one of them…