According to a late court on Thursday night, the EV Startup Looside Motors has emerged as a wonderful winner in the bankruptcy auction of the Arizona Factory and other assets of Nicola’s Arizona Factory and other assets. Filing.
According to the filing, Lucades committed about $ 30 million in cash and non -cash reservations in exchange for the factory, leasing Nicola’s Phoenix headquarters, and “some machinery, equipment and inventory”.
The company told Tech Crunch that as part of the deal, Loside is planning to offer about 300 former Nicola employees.
The sudden appearance of the Loside in the Nicola bankruptcy process is a shock for a number of reasons.
Nichola was trying to sell it Whole business Since it filed in February to protect bankruptcy. Loside is focused on making passenger EVs, and has never dealt with hydrogen -powered electric vehicles, which is a huge piece of Nicola’s newborn business.
Recently, Trever Milton, founder of Nicola – who was declared a fraud in 2022, but he was Pardon Was by President Trump in March – Starting your bid on Startup assets. Nicola persuaded the court to prevent Milton from personally inspecting his factory and other assets before auction, which was held on April 7.
According to the company, nearby Casa Grande has its own factory in Arizona, and as well as the value of getting more warehouse space, testing equipment and employees.
Although the Loside was the leading bid for these assets at the auction, the bankruptcy judge was allowing the sale to submit objections by 12:00 pm on Friday, April 11. A hearing is scheduled for ET 1:30 pm.