After a deal with Mercedes-AMG to supply a 4.0-liter twin-turbo V8 engine and, soon, several electrified engines, Aston Martin has just announced a major new partnership.
The brand has just introduced a “strategic supply agreement” with Lucid, an American-Saudi manufacturer of high-end electric vehicles. According to the press release, This agreement is aimed at creating electric cars “Ultra luxurious high performance”.
The premium electrified future
Lucid will supply Aston Martin with electric powertrain and battery systems for a total of approximately $232 million (€213 million), part of which will be paid in the form of shares. The deal will see Aston Martin acquire a 3.7% stake in Lucid.
Since its IPO in London in late 2018, Aston Martin has faced several challenges. Thanks to the intervention of Canadian billionaire Lawrence Stroll, the brand was saved from bankruptcy in early 2020. Today, the company aims to position itself in the highest segment and start the transition to electrification.
Lawrence Stroll, chairman of the board, said in a statement that the deal with Lucid would give Aston Martin “access to the most advanced and innovative technologies in the sector”. He also added: “Together with Mercedes-Benz, our other partner, we now have two world-class suppliers supporting our internal development and the investments we are making as part of our electrification strategy. »
Aston Martin multiplies the partnership
Aston Martin plans to launch its first plug-in hybrid model next year electrified motorization on all its new models by 2026.
In May, Aston Martin also announced a partnership with Chinese car group Geely, which invested 234 million pounds (273 million euros) to become the group’s third-largest shareholder after Saudi Arabia’s Public Investment Fund and the Yew consortium. Lawrence Stroll, who is the first shareholder. Lucid, on the other hand, is primarily owned and controlled by the Public Investment Fund.
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Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.