Lucid Group is set to acquire Nikola Corporation’s Arizona-based facilities and assets following bankruptcy, but the deal excludes any technology related to Nikola’s hydrogen fuel cell trucks.
Lucid will take over Nikola’s former Coolidge manufacturing facility and its Pheonix facility, which were previously used as the company’s headquarters and product development centre. Furthermore, the company plans to offer employment to more than 300 former Nikola employees.
Nikola filed for Chapter 11 bankruptcy earlier this year with around $47m in cash on hand. On April 10, the US Bankruptcy Court for the District of Delaware held an auction for the company’s assets.
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