Nikola Corporation (NKLA)

[WeTheMarket]

Electric vehicle maker acquires large site in West Valley
By Audrey Jensen – Reporter, Phoenix Business Journal
Oct 17, 2022
https://www.bizjournals.com/phoenix/news/2022/10/17/nikola-buys-land-buckeye-phoenix-expansion.html

Arizona-based vehicle maker Nikola Corp. quietly purchased nearly 1,000 acres in the Phoenix metro at the end of September for $16.5 million, according to Maricopa County records.

Nikola (Nasdaq: NKLA) acquired the 920-acre site through Phoenix Hydrogen Hub LLC from Hardison Farms on Sept. 30, real estate database Vizzda shows. George Quinif of Peak Group LLC represented Nikola in the sale.

The massive site is located at 28702 W. Patterson Road in south Buckeye just west of State Route 85 near the Arizona Department of Corrections Lewis Prison, which is one of the largest prisons in the state and houses more than 4,400 inmates.

The sale comes after Nikola made multiple announcements that it planned to break ground on a hydrogen production hub in Arizona. The company's CEO said in August that Nikola would start construction on the new facility by the end of this year but did not disclose the location.

According to the Arizona Corporation Commission, Corey Hessen and Omar Khayum, senior vice president and vice president of Canada-based TC Energy, respectively, are the managers of Phoenix Hydrogen Hub LLC. Oil and gas giant TC Energy partnered with Nikola last year to develop large-scale hydrogen production hubs across the U.S. and Canada.

Nikola hasn't confirmed, though, whether it plans to build a hydrogen production hub in Buckeye. Nikola did not immediately respond to a request for comment about its plans. The city of Buckeye said nothing has progressed with the company beyond negotiations.

The automaker is currently producing battery electric vehicles and has produced several alpha prototypes of its fuel cell electric vehicles, which run on hydrogen. Nikola is planning to build out a hydrogen fueling network to support its vehicles. Its first three locations will be established in California.