Lucid has acquired select assets from Nikola Corporation’s bankruptcy proceedings, including a manufacturing plant in Coolidge, Arizona, and Nikola’s former headquarters in Phoenix. The electric vehicle manufacturer said it will offer employment to more than 300 former Nikola staff as part of the acquisition.
The $30 million transaction, comprising cash and non-cash considerations, is subject to approval by the U.S. Bankruptcy Court for the District of Delaware. Lucid noted that the purchase does not include Nikola’s business operations, customer relationships, or technology related to hydrogen fuel cell trucks.
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The acquisition adds over 884,000 square feet to Lucid’s footprint in Arizona, where it already operates a facility in Casa Grande. The newly acquired properties include advanced manufacturing and warehousing buildings, along with development infrastructure such as battery and environmental testing labs, a chassis dynamometer, and machining equipment.
“As we continue our production ramp of Lucid Gravity and prepare for our upcoming midsize platform vehicles, acquiring these assets is an opportunity to strategically expand our manufacturing, warehousing, testing, and development facilities,” said Marc Winterhoff, interim CEO of Lucid. He added that welcoming experienced former Nikola employees would strengthen Lucid’s technical capabilities and support its expansion in the region.
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Lucid is known for its Air luxury electric sedan and recently launched the Gravity SUV. The company is currently working on a new vehicle platform aimed at delivering more affordable electric vehicles.