Aston Martin Lagonda confirms it has entered into an agreement with California-based Lucid Motors for the supply of electric powertrain and battery technology.
Lucid will receive a 3.7% stake in Aston Martin in exchange for “high performance” technology, Reuters reported. Aston Martin shares increased 11% following the Monday announcement but fell 4.3% today when the U.K. sports car maker omitted a sales volume target in its report to investors at its capital markets day.
Components supplied by Lucid Motors will form the basis of a new electric-vehicle platform being developed by Aston Martin Lagonda for use in a range of upcoming models, including a sports car, grand tourer, SUV and headlining hypercar.
In announcing the deal, Aston Martin Lagonda Chairman Lawrence Stroll says: “Based on our strategy and requirements, we selected Lucid, gaining access to the industry's highest performance and most innovated technologies for our future BEV products.”
Founded in 2007 by a group of businessmen headed by former Tesla Motors vice president Sam Weng, Lucid Motors presently produces one model, the Air sedan (pictured, below). It is sold with a choice of single-, dual- and tri-motor powertrains, the most powerful of which boasts an output of more than 1,200 hp and a 112-kWh battery.
Aston Martin Lagonda and Lucid Motors have a common shareholder in Saudi Arabia's Public Investment Fund.
Stroll says Aston Martin Lagonda will “leverage the investments Lucid has made to develop its world-class technologies, but will also further enhance and differentiate the drive experience through the work (Aston Martin technical boss) Roberto Fedeli and his team are already developing, aligned with our ultra-luxury, high-performance strategy.”
Aston Martin Lagonda also confirms it will continue to have access to various Mercedes-AMG technologies, including powertrains and electric architectures.
Stroll adds: “Along with Mercedes-AMG, we now have two world-class suppliers to support the internal development and investment we are making to deliver our electrification strategy. With the partnership with Geely, we will also gain the opportunity to access their range of technologies and components, as well as their deep expertise in the key strategic market of China.”
Stroll, who also heads up the Aston Martin F1 team, previously confirmed the English automaker's first BEV model was “on schedule” for launch in 2026.
Lucid Air front 1.4
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