Nikola’s Coolidge factory sale approved by bankruptcy judge
A recent Nikola bankruptcy auction is moving forward now that Judge Thomas M. Horan approved a sale on Friday.
Watch: The Faceoff: Is Gov. Katie Hobbs choosing Arizona over the Democratic party? | 29 mins
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 April 11 by Judge Thomas M. Horan in the U.S. Bankruptcy Court for the District of Delaware.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
Related
From salads to coffee? Dutch Bros could take over closed Salad and Go spots
APS breaks peak energy demand record again as air conditioners blast across Valley
Here are some ways to fill the hole left in your heart – and stomach – by Salad and Go’s demise
UFC, WWE and PBR announce 7 events coming to Phoenix area as part of landmark deal
Work progresses on industrial development near Buc-ee’s in Goodyear
Old Town Tortilla Factory closes for good after 30 years in Scottsdale
Comments
6 Comments
Would upvote twice if I could.
The guy had no preexisting history of contributing to Republican candidates or participating in Republican politics.
Just open corruption.
"Trevor Milton, the founder of Arizona-based electric vehicle start-up Nikola who was sentenced to prison last year, was pardoned by President Donald Trump late Thursday, the White House confirmed Friday.
The pardon of Milton, who was sentenced to four years in prison for exaggerating the potential of his technology, could wipe out hundreds of millions of dollars in restitution that prosecutors were seeking for defrauded investors.
Milton and his wife donated more than $1.8 million to a Trump re-election campaign fund less than a month before the November election, according to the Federal Election Commission."
Felons pardoning felons. This is the America people want?
The laziness that went into making this scammy company to begin with is so clear to see
“The name Tesla is already taken, so we’ll just give our company the FIRST name of Tesla! Nikola!”
I bet they propped up their feet on the desk after that and called it a day