In a strategic move shaking up the electric vehicle landscape, California-based Lucid Group has announced its decision to acquire select facilities and assets from the beleaguered Nikola Corporation, which recently filed for bankruptcy.

This acquisition, revealed on Friday, specifically excludes Nikola's ongoing business operations, customer base, and technology tied to its hydrogen fuel cell electric trucks. Instead, Lucid is eyeing the physical resources in Arizona to bolster its own production capabilities.

In a promising development for local employment, Lucid plans to offer jobs to over 300 former Nikola staff. These positions will span various technical roles, providing a lifeline to workers impacted by Nikola's turbulent journey.

Nikola, once a promising player in the EV sector, struggled with low demand and financial woes, culminating in its Chapter 11 bankruptcy filing earlier this year. The company aimed to liquidate its assets to maximize value amid its decline.

The company has faced multiple challenges, including serious safety concerns stemming from a series of fire incidents involving its trucks in 2023, leading to a comprehensive recall of its vehicles.

Adding a dramatic twist, Nikola's founder, Trevor Milton, recently received a pardon from former President Donald Trump after serving a prison sentence for fraud. This move sparked discussions about the future of the company and its brand.

As Lucid integrates these new facilities into its operations, the acquisition not only underscores the struggles of the once-celebrated Nikola but also highlights Lucid's ambition to expand its footprint in the electric vehicle arena.