diff --git a/scripts/tools/generate_esp32_chip_factory_bin.py b/scripts/tools/generate_esp32_chip_factory_bin.py
index a88e999d1010ea..b7dd96eb0d2d07 100755
--- a/scripts/tools/generate_esp32_chip_factory_bin.py
+++ b/scripts/tools/generate_esp32_chip_factory_bin.py
@@ -486,6 +486,8 @@ def any_base_int(s): return int(s, 0)
 
     if args.passcode is not None:
         spake2p_params = gen_spake2p_params(args.passcode)
+    else:
+        spake2p_params = None
 
     populate_factory_data(args, spake2p_params)