Lucid Motors Snaps Up Nikola’s Arizona Assets

In a strategic move, Lucid Motors has acquired select assets and facilities from Nikola Corporation’s bankruptcy sale.

The deal, valued at around $30 million, includes Nikola’s manufacturing plant in Coolidge and its Phoenix headquarters, expanding Lucid’s presence in Arizona with nearly 884,000 square feet of space.

However, this acquisition doesn’t include Nikola’s operational business, customer base, or its hydrogen fuel cell technology, which means Lucid’s new purchase is strictly for manufacturing expansion.

Lucid has also extended job offers to more than 300 former Nikola workers, absorbing technical and operational roles across the facilities.

Nikola, which had once positioned itself as a leader in the electric and hydrogen-powered truck market, had filed for Chapter 11 bankruptcy earlier this year after struggling with low demand, ongoing recalls, and severe cash burn.

Lucid, on the other hand, seems focused on boosting its production capacity, especially in light of its plans to launch new models like the Gravity SUV.

The purchased facilities come with top-tier manufacturing and testing equipment, including battery testing chambers and chassis dynamometers—tools Lucid is hoping will help fast-track its vehicle output.

While it’s still unclear whether Lucid’s gamble on Nikola’s leftovers will pay off, the move does seem to position the luxury EV maker for faster growth in an increasingly crowded market.