Aston Martin and Lucid Group embark on a $450M strategic technology partnership, introducing Lucid’s proprietary electric powertrain technology to Aston Martin’s luxury vehicle lineup.
What’s Happening
In a landmark deal exceeding $450 million, Aston Martin and Lucid Group, Inc., have entered into a long-term strategic partnership. This alliance will integrate Lucid’s state-of-the-art electric vehicle powertrain and battery systems into Aston Martin’s models, marking Lucid’s debut into such technology collaborations.
Why It Matters
As a pioneering move towards a sustainable future, Aston Martin will secure direct access to Lucid’s proprietary electric powertrain technology. This includes Lucid’s high-performance twin motor drive unit, revolutionary battery technology, and the innovative Wunderbox. Aston Martin’s financial commitment involves a combination of company shares and phased cash payments, consequently making Lucid a shareholder in Aston Martin.
Key Points
Lucid, a leader in the electric vehicle market and the manufacturer of the award-winning Lucid Air, will provide technical support to Aston Martin for the integration of its proprietary technology into a new, bespoke electric vehicle platform developed by the British brand. The agreement also includes the supply of Lucid components.
The partnership is expected to foster a significant collaboration between Aston Martin’s rich history and racing success, and Lucid’s leading-edge technology from Silicon Valley. Aston Martin anticipates this arrangement to drastically alter its growth trajectory in the EV sector.
Bottom Line
The partnership marks a considerable leap for both Aston Martin and Lucid. It empowers Aston Martin with groundbreaking EV technology to drive its electrification strategy forward and meet its target of launching the first fully electric Aston Martin model by 2025.
Simultaneously, it extends Lucid’s influence beyond its products, opening up possibilities for mainstream applications of its innovative electric powertrain technology. The initiation of this partnership is contingent upon approval from Aston Martin’s shareholders, regulatory approvals, and other standard conditions.
