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EV maker Lucid announced a deal with Aston Martin to white label its EV tech as the luxury automaker looks to build out its electric offerings later this decade.
(Reuters) -Aston Martin has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group a 3.7% stake in return for access to its "high performance" technology, the British company ...
British ultra-luxury sports car maker Aston Martin has signed a deal with Lucid Group, the California-based electric luxury car startup. Lucid will provide electric motors under the arrangement ...
According to the terms of the $450 million deal, [40] Aston Martin said it would pay Lucid $132 million in cash for its expertise; Lucid would be given a 3.7 percent stake in Aston Martin worth $100 million; and Aston Martin guaranteed it would buy at least $225 million in powertrain components. [41] [42]
In June 2023, Aston Martin signed an agreement with Lucid Motors after selecting it to help supply electric motors, powertrains, and battery systems for its upcoming range of fully electric cars. In return, Aston Martin will make cash payments and issue a 3.7 percent stake in its company to Lucid, worth $232 million in total.
The first electric Aston is scheduled to arrive in 2025, and a possible quad-motor layout with Lucid's next-gen motors could produce up to 1500 horsepower. Aston Martin and Lucid to Collaborate on ...
It actually wouldn't be the first deal for Lucid, as the company previously agreed to a partnership with luxury British automaker Aston Martin. The partnership calls for Lucid to provide its EV ...
Lucid also has a strategic partnership with Aston Martin, granting the automaker access to its advanced powertrain and battery systems. In exchange, Lucid received equity in Aston Martin and $99 ...
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