Lucid Motors Partners With Aston Martin To Power Their Electric Cars Lineup
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Lucid and Aston Martin have made a long-term strategic alliance in order to integrate and provide Lucid's innovative electric vehicle powertrain and battery systems, valued at over $450M.
This comes after Lucid was awarded the 2023 World Luxury Car Award for their Lucid Air model. The agreement will help propel the long-term growth and success of both giants in their respective industries.
This groundbreaking agreement is the first of its kind for Lucid Group's technology division, which will now be able to broaden its product range and open up potential for mainstream applications in the future.
Aston Martin will be given direct access to Lucid's cutting-edge powertrain technologies like its twin motor drive unit, top-of-the-line battery hardware, and advanced Wunderbox. In exchange, Aston Martin will be paying out access fees with a combination of their own shares and cash payments. This will result in Lucid becoming a stakeholder of Aston Martin. Furthermore, they will have supply bargains set up for Lucid's powertrain components.
Aston Martin's Racing. Green. Sustainability strategy includes a commitment to electrification and an investment of £2 billion in technology, for which they have secured a strategic supply agreement with Lucid Group, providing access to industry-leading technologies and powertrain components for current and future BEV models.
Additionally, Mercedes-Benz AG remain committed to extending Aston Martin with world-class technologies, including powertrains and electric/electronic architectures for their internal combustion engine, hybrid and BEV vehicles across the brand's portfolio of hyper-cars, sport, GT and SUV models.
"This partnership will represent a landmark collaboration between Aston Martin, a storied marque with a rich history, including winning at Le Mans and its current successes in F1, and the very best ofSilicon Valleyinnovation and technology from Lucid," saidPeter Rawlinson, CEO and CTO, Lucid. "In line with its strategy, Aston Martin selected Lucid, recognising the profound benefits of adopting its world-leading electric drivetrain technology, exemplified by the breakthrough 516-mile EPA-estimated range achieved by the Lucid Air Grand Touring."
"The supply agreement with Lucid is a game changer for the future EV-led growth of Aston Martin," saidLawrence Stroll, Executive Chairman, 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."
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