Aston Martin Partners with Lucid to Launch Ultra-Luxury High Performance Electric Vehicles

Following a contract with Lucid Group, British ultra-luxury brand Aston Martin is poised to become one of the top worldwide participants in the Electric Vehicle (EV) industry. According to a contract inked by the two businesses, Lucid Group will now provide the British automaker with electric motors, batteries, and other technologies to support its plan of electrifying high-performance vehicles. The arrangement was just disclosed to the London Stock Exchange.

In addition to regular cash payments, Aston Martin will give Lucid a 3.7 percent ownership, or around 28,352,273 common shares. Around $232 million is the projected combined value of the shares and cash payments.

Technical assistance will be given by Lucid as Aston Martin combines the dual motor drive unit, battery technology, and onboard charging system known as the Wunderbox developed by Lucid.

Lucid, “The supply agreement with Lucid is a game changer for the future EV-led growth of Aston Martin,” stated Lawrence Stroll, executive chairman of Aston Martin. We chose Lucid based on our strategy and needs, giving our future BEV products access to the best performance and most cutting-edge technology available. In line with our ultra-luxury, high-performance strategy, we will not only take advantage of the sizeable investments Lucid has made to create its world-class technologies, but we’ll also further enhance and differentiate the driving experience through the work Roberto Fedeli and his teams are already doing.

For current and next generations of Aston Martin cars, including internal combustion engine, hybrid, and electric vehicles, Mercedes-Benz AG will reportedly continue to provide access to a variety of premier technologies, including electric and electronic designs for powertrains.

The first of Aston Martin’s next-generation electric vehicles, due to go on sale in 2025, would be an SUV, and all of them would be constructed on a brand-new, exclusive platform. Mid-engine supercar Valhalla, the first plug-in hybrid from Aston Martin, will be on sale in 2024. By 2026, all brand-new Aston Martin model lines will have electric powertrain choices, with the long-term goal of making its core range entirely electric by 2030.