The supply deal with Lucid gives Aston Martin access to “industry-leading” electric vehicle technologies.
Aston Martin will have access to both Lucid’s current and future powertrain and battery technology. The tech will be used to power Aston Martin’s all-new, in-house Battery Electric Vehicle (BEV) platform.
The deal, which was announced to the London Stock Exchange this morning, is described as a long-term relationship with Lucid.
Aston Martin’s existing tech partnership with Mercedes-Benz also continues – and a renewed deal was also confirmed today. This includes powertrain and electronic architectures, again for both current and future Aston Martin vehicles.
The British brand’s surprise decision to use Lucid EV powertrain technology, instead of Mercedes-Benz, is part of a £2bn investment which Aston Martin calls the Racing Green sustainability strategy.
Earlier this year, the acclaimed Lucid Air – the US firm’s first car – was named World Luxury Car of the Year 2023.
Lawrence Stroll, executive chairman of Aston Martin, said: “The supply agreement with Lucid is a game changer for the future EV-led growth of Aston Martin.
“Based on our strategy and requirements, we selected Lucid, gaining access to the industry’s highest performance and most innovative technologies for our future BEV products.
“We will not only leverage the significant investments Lucid has made to develop its world-class technologies, but will also further enhance and differentiate the drive experience through the work Roberto Fedeli [Aston chief tech officer] and his teams are already developing, aligned with our ultra-luxury, high-performance strategy.
“Along with Mercedes-Benz, we now have two world-class suppliers to support the internal development and investments we are making to deliver our electrification strategy.”
Stroll added the recently-announced long-term partnership with Geely will open up access to its tech too, along with its expertise of China, a key strategic market.
As part of the EV tech deal, Lucid will receive phased cash payments of around £182m, and become a 3.7 percent shareholder in Aston Martin.
Aston Martin EV strategy
The new Aston Martin BEV platform will underpin all the firm’s future EVs, “from hypercars to sports cars, GTs and SUVs”. The first will launch in 2025.
The single BEV platform will be bespoke and combine Lucid’s powertrain technology with the Mercedes-Benz electric architecture.
Aston Martin says the next-generation technology will deliver class-leading performance and “brilliantly resolved vehicle dynamics”.
Enthusiasts are promised ultra-precise control of power delivery to each wheel, to create a “unique and distinct dynamic fingerprint for each Aston Martin BEV”.
The firm will also lean upon the expertise of Aston Martin Performance Technologies, the consulting arm of the Aston Martin Formula 1 team.
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