Overview

• Lucid Motors has acquired select Arizona-based facilities and assets from Nikola Corporation's bankruptcy sale for $30 million in cash and non-cash considerations.
• The acquisition includes Nikola's former Coolidge manufacturing facility, Phoenix headquarters, and state-of-the-art testing and development equipment.
• Lucid plans to offer employment to over 300 former Nikola employees, supporting its expansion in Arizona and leveraging their expertise in EV technology.
• The deal explicitly excludes Nikola's hydrogen fuel cell technology, broader business operations, and customer base, focusing solely on physical assets.
• The transaction is pending final objection reviews, with a court hearing scheduled for later today to approve the sale.