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

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

EV startup Lucid Motors has emerged as a surprise winner in the bankruptcy auction for electric trucking company Nikola’s Arizona factory and other assets, according a late Thursday night court filing. Lucid committed around $30 million in cash and non-cash considerations in exchange for the factory, Nikola’s lease on its Phoenix headquarters, and “certain machinery,…

Read More
Inside the EV startup secretly backed by Jeff Bezos

Inside the EV startup secretly backed by Jeff Bezos

Jeff Bezos is funding a secretive EV startup based in Michigan called Slate Auto that could start production as soon as next year, according to multiple sources and documents that link the billionaire’s family office to the startup. Slate, which took root in another Bezos-connected company called Re:Build Manufacturing, has been operating quietly since its…

Read More
Nikola founder Trevor Milton pardoned by Trump

Nikola founder Trevor Milton pardoned by Trump

Trevor Milton, the founder of bankrupt hydrogen trucking startup Nikola who was convicted of fraud, has been pardoned by President Trump, the White House confirmed to TechCrunch. Milton was convicted in October 2022 of one count of securities fraud and two counts of wire fraud related to claims he made about Nikola’s progress to investors. He was…

Read More
Trump’s auto tariffs are a gift to Tesla 

Trump’s auto tariffs are a gift to Tesla 

President Trump is slapping 25% tariffs on all cars imported to the United States, including from our immediate North American neighbors. He’s also placed a 25% tariff on certain parts used to build cars. It’s a decision that will likely supercharge the cost of new and used cars, but it’s also a gift to Tesla,…

Read More