The EV Lucid Motors startup has develop into a shock winner on the bankrupt presentation.
Lucid dedicated round $ 30 million in money and non -monetary issues in change for the manufacturing unit, Nikola’s lease at its Phoenix headquarters and “a sure equipment, tools and stock,” in keeping with the presentation.
As a part of the settlement, Lucid plans to make affords to round 300 former Nikola staff, the corporate informed TechCrunch.
Lucid’s sudden look in Nikola’s chapter procedures is a shock for a number of causes.
Nikola had been attempting to promote his The entire enterprise Because it was declared in chapter in February. Lucid focuses on making passengers EV, and has by no means handled electrical autos with hydrogen, which is a big piece of Nikola’s nascent enterprise.
Extra just lately, the founding father of Nikola, Trevor Milton, who was convicted of fraud in 2022, but it surely was forgiven By President Trump in March – it was Consider your individual provide in startup belongings. Nikola satisfied the courtroom that he prevented Milton from inspecting his manufacturing unit and different belongings in individual earlier than the public sale, which was held on April 7.
Lucid has its personal manufacturing unit within the close by Casa Grande, Arizona, so it considers worth in buying extra space for storing, take a look at tools and staff, in keeping with the corporate.
Whereas Lucid was the most effective bidder of those belongings on the public sale, the chapter choose is permitting objections to sale till 12:00 pm et on Friday, April 11. A viewers is scheduled for 1:30 pm et.
