Luxury EV maker Lucid Motors has confirmed the acquisition of certain facilities in Arizona from Nikola Motors, following the latter's bankruptcy. The transaction notably includes the Coolidge factory and Nikola's headquarters in Phoenix, two key infrastructures located in close proximity to Lucid's own factory in Casa Grande.
In a press release, Lucid specified that the acquisition does not concern Nikola's commercial activities, its customers or its hydrogen truck technology.
884,000 square feet of Industrial Potential
The acquired buildings total more than 884,000 square feet, mainly composed of state-of-the-art manufacturing facilities, environmental testing equipment, chassis dynamometers, production tooling, and storage spaces. This acquisition supports Lucid's planned expansion in Arizona, particularly for the ramp-up of its Lucid Gravity SUV and for the development of new, more compact and affordable models.
Lucid to offer over 300 positions to former Nikola employees
Lucid is not just acquiring buildings: the company also plans to offer employment to over 300 former Nikola employees, mostly in Arizona. These positions will cover areas such as production engineering, software development, assembly, vehicle testing, and logistics support.
The objective is clear: to capitalize on the technical skills of these workers while reducing the social impact of Nikola's bankruptcy in the region.
A modest investment for a strategic gain
The amount of the acquisition is estimated at $30 million (US), divided between cash and non-monetary considerations. A price considered advantageous for Lucid, especially in comparison with the investments usually required to deploy this type of infrastructure.
Marc Winterhoff, Lucid's interim CEO, emphasizes the importance of this acquisition in the context of expansion:
"This acquisition allows us to rapidly strengthen our production, testing, and development capabilities, while actively supporting the local community."
Lucid moving forward, despite its own financial challenges
While Lucid is also experiencing financial difficulties – the company is not yet profitable and depends on regular fundraising – it remains in a much more stable situation than Nikola, whose years of turbulence led to bankruptcy in 2024.
This geographical proximity between the two former industrial neighbors in Arizona will allow Lucid to quickly optimize the acquired resources, including production equipment and already trained workforce.
An effective manoeuvre for Lucid, a second life for former Nikola workers
With this acquisition, Lucid Motors seizes a rare strategic opportunity: to expand its facilities at a lower cost, integrate experienced personnel, and gain a head start in the race to produce affordable electric vehicles. For former Nikola employees, it is also the hope of a quick return to employment in a rapidly evolving sector.