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Hasan Bratic / DPA Picture Alliance / Avalon

Aston Martin strikes EV deal with Lucid

by LLB Editor June 26, 2023

written by LLB Editor 26^th Jun 23 10:25 am

Aston Martin is teaming up with the US firm Lucid to start making “ultra-luxury high-performance electric vehicles” from 2025.

“Combined with our internal development, this [deal with Lucid] will allow us to create a single bespoke BEV platform suitable for all future Aston Martin products, all the way from hypercars to sports cars and SUVs,” said Roberto Fedeli, Aston Martin’s chief technology officer.

AJ Bell’s Russ Mould said: “Aston Martin shares continued their strong run, now up more than 130% year-to-date. Driving the latest rally is a deal with US group Lucid to make high performance electric vehicles. Lucid is to supply powertrain components in exchange for $232 million cash and 28.4 million shares, making it a 3.7% shareholder in Aston Martin.

“It’s the latest in a string of strategic initiatives designed to make the iconic British car maker more relevant in the modern age, having recently struck a partnership with Geely to access technologies and components and have a bigger foot in the door in China.”