Hello, tech enthusiasts! Exciting news from the electric vehicle world!

Lucid Motors has made a stunning entry by winning a bankruptcy auction for Nikola’s Arizona factory and other associated assets, as revealed in a recent court filing.

This deal totals around $30 million, which includes both cash and non-cash elements. Lucid is not just securing the factory; they’ve also obtained the lease for Nikola’s headquarters in Phoenix along with various machinery and equipment!

In a surprising twist, Lucid aims to reach out to about 300 former Nikola staff members to bring them on board.

Why is this remarkable? Well, Nikola has been in search of buyers for its entire operation since filing for bankruptcy earlier this year, and Lucid primarily focuses on passenger electric vehicles, marking a shift from Nikola’s hydrogen-powered ambitions.

Additionally, Nikola’s former CEO, Trevor Milton, who was previously convicted of fraud, had aspirations of making a bid for the company’s assets but was unable to inspect them pre-auction due to a court ruling.

With Lucid’s existing factory located in Casa Grande, Arizona, this acquisition will enhance their capacity for storage, testing, and manpower.

While Lucid emerged as the leading bidder, the bankruptcy court has opened a window for objections to be filed until noon on April 11, with a follow-up hearing set for that afternoon.