British ultra-luxury sports car maker Aston Martin has signed a deal with Lucid Group, the California-based electric luxury car startup
Aston Martin announced last year that it plans to produce its first fully electric model by 2025. Saudi Arabia’s Public Investment Fund is the largest shareholder in Lucid and the second-largest in Aston Martin, after billionaire chairman Lawrence Stroll. Chinese automotive conglomerate Geely, which owns Volvo and Lotus, among other brands, doubled its stake in Aston Martin last month to about 17%. And Lucid will take a 3.7% stake in Aston Martin as part of the newly announced arrangement.
Most of its competitors are part of global auto giants such as Volkswagen Group, which owns Bentley; and BMW, which owns Rolls-Royce. Those brands can rely on the purchasing power and technology of their parent companies. Aston Martin’s deals with other automakers can help it gain some of the benefits of the sort of technology-sharing its competitors have.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aston Martin strikes deal with Bay Area-based Lucid to help make EVsBritish ultra-luxury sports car maker Aston Martin has signed a deal with Lucid Group, the Newark-based electric luxury car startup. Lucid will provide electric motors under the arrangement and bat…
Read more »
Aston Martin Lagonda to Enter Agreement With Lucid to Make Luxury Electric VehiclesBy Anthony O. Goriainoff Aston Martin Lagonda Global Holdings said Monday that it intends to enter into a strategic supply agreement with Lucid Group for the...
Read more »
Aston Martin partners Lucid for upcoming electric cars | AutocarUS-based EV start-up to supply powertrain and battery components for electric Astons
Read more »
Aston Martin makes deal with Lucid to develop electric carsLucid will supply Aston Martin with EV tech to help develop the Brit brand's first battery-electric car for 2025
Read more »
Aston Martin turns to US EV company Lucid for high-tech helpAston 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 said on Monday, sending its shares up nearly 15%.
Read more »
Lucid is going to power Aston Martin's future EVs | EngadgetAston Martin plans to build 'ultra-luxury high-performance' EVs using Lucid's electric motors, batteries and other technology..
Read more »