Lucid Motors Acquires Nikola's Arizona Factory in Surprise Bankruptcy Auction Win

Lucid Motors Acquires Nikola's Arizona Factory in Surprise Bankruptcy Auction Win

Lucid Motors has made a bold and strategic move by winning the bankruptcy auction for Nikola Corporation’s Arizona factory and several other critical assets. I’m diving into the details of this surprising development and what it means for Lucid’s future, the local economy, and the broader electric vehicle (EV) landscape.  Image Credits:Nikola Corporation A $30 Million Power Move to Expand Lucid’s Footprint On April 10, a court filing revealed that Lucid Motors committed approximately $30 million in cash and non-cash considerations to acquire Nikola’s factory. This includes Nikola’s lease on its Phoenix headquarters along with essential machinery, equipment, and inventory. This move gives Lucid a strong boost in infrastructure—without the lengthy construction timelines that come with new builds. As someone closely tracking EV growth, I can say this deal positions Lucid for a major ramp-up as it works to scale production of the Lucid Gravity SUV and develop its midsize EV platform. Strategic…