British carmaker to use components from Lucid to produce luxury high-performance battery electric models
Aston Martin has struck a deal with the US firm Lucid to start making “ultra-luxury high-performance electric vehicles” from 2025.
The British luxury carmaker, whose losses more than doubled last year to almost £500m, has struck a cash and shares deal valued at £182m in which Lucid will take a 3.7% stake in London-listed Aston Martin.
The carmaker, which sold 6,400 luxury vehicles last year and has spent heavily on new models, said it would select powertrain components from Lucid for initial and certain future battery electric vehicle (BEV) models.
The company said the deal, which involves a minimum spend of £177m with Lucid, would help drive its plan to launch its first BEV in 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.
Mercedes-Benz holds a 9.4% stake in Aston Martin as part of a long-term strategic deal that includes technology sharing and representation on the British carmaker’s board.
Read more: TheGuardian
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