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EV startup Lucid Motors has emerged as a surprisal winner in the bankruptcy vendue for galvanizing trucking caller Nikola ’s Arizona factory and other plus , according to a late Thursday night courtfiling .
Lucid commit around $ 30 million in cash and non - cash retainer in interchange for the factory , Nikola ’s lease on its Phoenix military headquarters , and “ sure machinery , equipment and armoury , ” according to the filing .
As part of the deal , Lucid is planning to make crack to around 300 former Nikola employee , the company told TechCrunch . Those offers will go to both salaried and hourly employees across manufacturing , engineering , software , assembly , vehicle examination , and storage warehouse reinforcement , Lucid said ina press firing .
“ As we continue our production incline of Lucid Gravity and prepare for our forthcoming midsize program vehicles , acquiring these assets is an chance to strategically enlarge our manufacturing , warehousing , testing , and growth facility while supporting our local Arizona residential area , ” Marc Winterhoff , Lucid ’s interim CEO , said in a statement .
Lucid will not acquire any of Nikola ’s atomic number 1 trucking asset or its customers , harmonise to therelease . Lucid beat out three other unknown bidders in an auction bridge that started on April 7 and went multiple round , fit in to a courtfiling .
The sudden visual aspect of Lucid in the Nikola failure proceedings is a shock for multiple reasons .
Nikola had been trying to sell itswhole businesssince it lodge for failure aegis in February . Lucid is focused on making rider EVs and has never dealt with H - power electric vehicles , which is a bounteous piece of Nikola ’s nascent business .
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More recently , Nikola ’s father Trevor Milton — who was convicted of fraud in 2022 but waspardonedby President Trump in March — wasevaluating a bid of his own on the startup ’s plus . Nikola win over the court to block Milton from inspect its factory and other asset in person onward of the auction , which was hold April 7 .
Lucid has its own factory in nearby Casa Grande , Arizona , and so it sees economic value in acquiring more warehousing space , testing equipment , and employee , according to the companionship .
While Lucid was the top bidder for these plus at the auction , the failure judge is allowing objections to the sales agreement to be filed until 12:00 p.m. ET on Friday , April 11 . A hearing is scheduled for 1:30 p.m. ET .
This story has been updated with information from Lucid Motors ’ mechanical press liberation and extra court filings about the vendue .
