Lucid Motors wins a bankruptcy auction for the Arizona factory in Nicola and other assets

EV Startup Lucid Motors has become a winner of surprising the bankruptcy auction for Nikola electricity company in Arizona and other assets, according to late court on Thursday night submissionS

Lucid has made about $ 30 million in cash and non -monetary reasons in replacement of the factory, Nikola leasing at Phoenix’s headquarters and “certain machines, equipment and inventory”, according to the submission.

As part of the deal, Lucid plans to make offers for about 300 former Nikola employees, the company told TechCrunch.

The sudden appearance of Lucid in Nicola’s bankruptcy production is a shock for many reasons.

Nicola was trying to sell it whole business As he filed a bankruptcy application in February. Lucid focuses on creating a passenger EVS and has never been engaged in hydrogen electric vehicles, which is a large piece of Nicholas’ nascent business.

Just recently the founder of Nikola Trevor Milton – who was convicted of fraud in 2022 but was pardoned by President Trump in March – it was Evaluation of your own offer for startup assetsS Nicholas convinced the court to block Milton to inspect his factory and other assets personally before the auction, which took place on April 7.

Lucid has its own factory in the nearby Casa Grande, Arizona and therefore sees value when acquired more storage space, testing equipment and employees, according to the company.

While Lucid was the best candidate for these auction assets, the bankruptcy judge allows the objections to the sale to be filed by 12:00 pm on Friday, April 11. The hearing is scheduled for 1:30 pm ET.