According to the late night of Thursday night, EV Startup Lucid Motors has emerged as an amazing winner in the bankruptcy auction of the Arizona plant and other assets of the electric truck transportation Nikola.
Lucid promised about $ 30 million in cash and non -cash considerations in return with the factory, Nikola’s rental of Phoenix headquarters, and “specific machinery, equipment and inventory”, according to the “specific machine, equipment and inventory”.
As part of the contract, Lucid plans to offer about 300 former Nikola employees, the company told TechCrunch.
It is shocking for various reasons that suddenly appears in the Nikola bankruptcy procedure.
Nikola tried to sell the entire business after applying for bankruptcy protection in February. Lucid focuses on creating passenger EVs and has not dealt with hydrogen drive electric vehicles, a big piece of Nikola’s initial business.
Recently, Trevor Milton, the founder of Nikola, who was convicted of fraud in 2022, was fraudulent by President Trump in March and evaluated his bid for new assets. Nikola persuaded the court to block Milton’s direct inspection of factories and other assets before the auction held on April 7.
According to the company, Lucid has its own factory near Casa Grande, Arizona, so it is worth acquiring more warehouses, test equipment and employees.
Lucid was the highest bidder of these assets at the auction, but the bankruptcy judge allowed the bankruptcy on Friday, April 11th. The hearing is scheduled at 1:30 pm.
