Machine Nation News Team
April 21, 2025 at 10:00:00 AM
Lucid Group, Inc. Announced That It Reached An Agreement To Acquire Select Facilities And Assets In Arizona Previously Owned By Heavy-Duty Commercial Electric Vehicle Maker Nikola Corporation
Lucid Group, Inc. (NASDAQ: LCID), a California-based luxury electric vehicle (EV) manufacturer, announced on April 11, 2025, an agreement to acquire select Arizona facilities and assets from Nikola Corporation, a heavy-duty commercial EV maker that filed for Chapter 11 bankruptcy in February 2025. The $30 million deal, approved by the U.S. Bankruptcy Court for the District of Delaware on April 10, includes Nikola’s 680,000-square-foot manufacturing plant in Coolidge and 204,000-square-foot Phoenix headquarters and development center, adding over 884,000 square feet to Lucid’s Arizona footprint. The acquisition, which excludes Nikola’s hydrogen fuel cell technology and customer base, includes advanced equipment like battery testing labs, environmental chambers, a chassis dynamometer, and precision machining tools. Lucid plans to hire over 300 former Nikola employees for roles in engineering, software, vehicle assembly, testing, and logistics, supporting the production of its Lucid Gravity SUV and upcoming midsize EV platform. Interim CEO Marc Winterhoff called it a “strategic expansion” to meet growing EV demand.
For the precision machining industry, Lucid’s acquisition amplifies the demand for precision tooling to support advanced EV manufacturing. The acquired facilities’ machining tools and dynamometer require high-precision components, such as custom fixtures and cutting tools, crafted with CNC machining and 5-axis milling to ensure sub-micron accuracy for battery and drivetrain testing. Precision tooling is critical for producing EV components like motor housings and chassis parts, enabling Lucid to scale production efficiently. The integration of these assets drives local machine shops to adopt automated tooling systems and additive manufacturing for rapid tool development, fostering innovation in high-strength alloys and composites. As part of a $70 billion EV manufacturing market, this move creates opportunities for suppliers in Arizona, where manufacturing jobs have grown 3% since 2023, strengthening supply chains and advancing precision machining expertise for sustainable mobility.
Source:
Lucid Group, Inc. Press Release, April 11, 2025
Source:
Social Media Buzz (powered by X):
X is charged with enthusiasm for Lucid’s $30 million Nikola acquisition, with posts on April 27, 2025, calling it a “power move” for EV growth. Users praised the 300+ job offers, with one noting “Lucid’s keeping Arizona talent in play,” while another highlighted “faster Gravity SUV production.” The buzz reflects optimism for regional economic impact and Lucid’s midsize EV push.
What is the Precision Tooling?
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Precision Tooling - The manufacturing process of designing and producing high-accuracy tools, such as dies and fixtures, using advanced machining techniques to support efficient production in industries like automotive and aerospace.
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Related Tags:
#LucidGroup #NikolaAcquisition #PrecisionTooling #EVManufacturing #ArizonaExpansion #GravitySUV