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EV startup Lucid Motors has emerged as a surprise winner in the bankruptcy auction for electric trucking company Nikola\u2019s Arizona factory and other assets, according a late Thursday night court filing<\/a>.<\/p>\n Lucid committed around $30 million in cash and non-cash considerations in exchange for the factory, Nikola\u2019s lease on its Phoenix headquarters, and \u201ccertain machinery, equipment and inventory,\u201d according to the filing. <\/p>\n As part of the deal, Lucid is planning to make offers to around 300 former Nikola employees, the company told TechCrunch.<\/p>\n The sudden appearance of Lucid in the Nikola bankruptcy proceedings is a shock for multiple reasons. <\/p>\n Nikola had been trying to sell its whole business<\/a> since it filed for bankruptcy protection in February. Lucid is focused on making passenger EVs, and has never dealt with hydrogen-powered electric vehicles, which is a big piece of Nikola\u2019s nascent business.<\/p>\n More recently, Nikola\u2019s founder Trevor Milton \u2014 who was convicted of fraud in 2022, but was pardoned<\/a> by President Trump in March \u2014 was evaluating a bid of his own on the startup\u2019s assets<\/a>. Nikola convinced the court to block Milton from inspecting its factory and other assets in-person ahead of the auction, which was held April 7.<\/p>\n Lucid has its own factory in nearby Casa Grande, Arizona, and so it sees value in acquiring more warehousing space, testing equipment, and employees, according to the company. <\/p>\n While Lucid was the top bidder for these assets at the auction, the bankruptcy judge is allowing objections to the sale to be filed until 12:00 p.m. ET on Friday, April 11. A hearing is scheduled for 1:30 p.m. ET. <\/p>\n<\/div>\n