Lucid Group, Inc., a leading electric vehicle manufacturer, has announced its intention to acquire select facilities and assets in Arizona previously owned by Nikola Corporation. This strategic move follows Nikola's bankruptcy filing earlier this year, which led to a significant restructuring of its operations. The acquisition includes Nikola's former manufacturing facility in Coolidge and its headquarters in Phoenix, adding over 884,000 square feet to Lucid's Arizona footprint. These facilities are equipped with advanced manufacturing and testing equipment, including battery and environmental testing chambers, a full-size chassis dynamometer, and machining tools.

The transaction does not involve the acquisition of Nikola's business operations, customer base, or hydrogen fuel cell truck technology. Instead, Lucid will focus on integrating the acquired assets into its existing operations to enhance its manufacturing and development capabilities in the region. This expansion aligns with Lucid's prior plans to grow its presence in Arizona, where it already operates a significant manufacturing facility in Casa Grande.

As part of the agreement, Lucid plans to offer employment to more than 300 former Nikola employees. These job offers will span various technical roles, including manufacturing engineering, software development, assembly, vehicle testing, and warehouse support. This move not only supports Lucid's growth but also aids the local economy by providing continued employment opportunities for skilled workers in the electric vehicle sector.

The acquisition is seen as a strategic opportunity for Lucid to scale up production of its vehicles, such as the Lucid Gravity, and prepare for future midsize platform vehicles. Arizona leaders, including Governor Katie Hobbs and Senator T.J. Shope, have praised the deal for its potential to strengthen Lucid's operations and boost the state's EV industry. The acquisition awaits approval from the U.S. Bankruptcy Court for the District of Delaware.