Lucid Group Inc. has won a bankruptcy auction for Nikola Corp.'s manufacturing facility in Coolidge.
The Saudi-backed California luxury electric vehicle company, which already produces vehicles at a massive manufacturing facility in Casa Grande, on April 10 agreed to pay $30 million for Nikola's Coolidge facility, along with the company's headquarters lease in Phoenix and other assets. The transaction is expected to add more than 884,000 square feet to Lucid's Arizona real estate footprint.
The sale was approved on April 11 by Judge Thomas M. Horan in the U.S. Bankruptcy Court for the District of Delaware.
