Lucid Group Acquires Key Facilities from Nikola Corporation to Boost EV Production

Lucid Group Expands Operations with Nikola Corporation Facility Acquisition

In a significant move aimed at bolstering its electric vehicle (EV) manufacturing capabilities, Lucid Group, Inc. (Nasdaq: LCID) has announced an agreement to acquire certain facilities and assets that were previously owned by Nikola Corporation. This acquisition comes in the wake of Nikola's filing for Chapter 11 bankruptcy, which culminated in an auction of its assets on April 10, 2025. The deal is pending approval from the U.S. Bankruptcy Court for the District of Delaware.

Details of the Acquisition

The facilities being acquired include Nikola's former manufacturing site located at Coolidge, Arizona, and its Phoenix headquarters that served as a center for product development. Collectively, these properties contribute more than 884,000 square feet of cutting-edge manufacturing and warehousing space to Lucid's existing operations in Arizona. Among the resources included in this acquisition are essential development equipment, advanced battery and environmental testing chambers, and a full-size chassis dynamometer. This strategic expansion aligns with Lucid's long-term objectives for growth and innovation in the electric vehicle market.

Job Creation for Former Nikola Employees

In a commendable attempt to support the local workforce, Lucid plans to extend job offers to over 300 former employees of Nikola, providing them with opportunities in various technical and engineering roles. These positions will span across departments including manufacturing engineering, software development, assembly, and warehouse support. By bringing in experienced professionals from the EV sector, Lucid aims to enhance its already robust team and continue pushing the boundaries of electric vehicle innovation.

Statements from Leadership

Marc Winterhoff, the Interim CEO of Lucid, expressed enthusiasm regarding the acquisition: "As we increase the production of our Lucid Gravity model and gear up for our upcoming midsize platform vehicles, this acquisition presents a golden opportunity for us. It not only expands our manufacturing and warehousing capabilities but also allows us to stay committed to the local community while reinforcing our position in the EV market."

He further emphasized the importance of hiring skilled former Nikola employees, stating their previous experience will be vital in sustaining Lucid's leadership in the EV landscape.

Arizona Governor Katie Hobbs lauded the announcement, calling it fantastic news for state workers. She noted, "This acquisition not only strengthens Lucid's operations but also ensures that hundreds of skilled workers in Arizona will continue to contribute to one of the fastest-growing sectors in our economy."

State Senator T.J. Shope echoed these sentiments, emphasizing the positive impact on the local community in Coolidge, where the Nikola facility is situated. The investment is set to play a crucial role in revitalizing the job market for those affected by Nikola’s layoffs and signifies Lucid’s commitment to investing in Pinal County's growth.

The Future of Lucid and Electric Vehicles

Lucid Group, based in Silicon Valley, is recognized for its innovative approach to electric vehicle design and technology. The company’s flagship, the Lucid Air, along with the forthcoming Lucid Gravity, is engineered to deliver unmatched performance and efficiency in the rapidly evolving EV marketplace. The acquisition of these facilities not only enhances Lucid’s production capabilities but also underscores the company’s mission to lead the charge in the electric vehicle industry.

Through this strategic move, Lucid is not only expanding its physical footprint but also fostering job growth and advancing the technological frontiers of electric vehicles. As the demand for sustainable transport solutions grows, Lucid’s proactive steps in acquiring key assets reflect its ambition to meet and exceed the expectations of its customers and the market at large. Lucid aims to continue innovating and setting new benchmarks in the world of electric vehicles.