Lucid Motors wins bankruptcy auction for Nikola’s Arizona factory and other assets

[Pittsburgher]

I like it.

30M is a cheap price to pay. Pennies on the dollar as they say.

I imagine this type of opportunity doesn't come around all too often. Might as well snatch it up vs build it later.

$33/ sq ft. maybe only 2X the cost of a high quality concrete slab (just the slab). An entire mfg. building with HVAC, plumbing, electrical offices, is likely $150- $200/ sq ft or better - even more if you build new. Quite a deal. And the ability to have dedicated lines by vehicle type as they flush out their model lines. Brilliant !

 

[Adnillien]

More from Adrian on what is included.

https://twitter.com/x/status/1910750664847953994

 

[DreamTour]

Wow what a bonanza!

I was at Casa Grande last november and this is basically down the street (well in desert terms). Lots of things they could do with the space now that they have it. While AMP-1 has a planned out growth path through mid size I'm sure this can alleviate some pressure. What a luxury to have extra space during a build out.

 

[californiaboy935]

Not sure why this is funny. Fisker didn’t fail because the employees sucked or weren’t good at their job.

I agree, I think it’s important for them to connect the community as well. These people have jobs and connections in Arizona, as well as expertise with the plant and its current function and operations. I think it’s strategically and economically brilliant to acquire this at such a bargain. I’m surprised a commercial real estate house didn’t buy it up for more and lease it to Lucid.

But seeing as how Lucid likes to own their strategic buildings I can see how that might have been a risky bet.

Excited to see this plan and strategic execution go into full scale integration. It will also be exciting to see how this effects further investment by the PIF and other possible sources of funding (if Lucid becomes even more alluring to firms looking to invest in companies with solid assets and advanced technology IP)