Lucid to supply Aston Martin with engines and batteries for its future electric vehicles

Lucid Motors will supply electric motors and batteries for Aston Martin in a $450 million deal. The two companies have announced this “historic collaboration”, as stated by Peter Rawlinson, CEO and CTO of Lucid, to promote the British manufacturer’s electric vehicles.

Thus, Aston Martin will have access to electric drivetrain technology that Lucid currently uses in Lucid Air, including what the company calls an ultra-high-performance dual-motor drive system, its battery technology, and its Wunderbox, a charger that powers the California-based firm’s vehicles. Lucid will also supply Aston Martin with the necessary components for its technology.

Replace Aston Martin must pay a fee for access to the aforementioned technologies in the amount of $232 million. Of that amount, $100 million will be paid in shares, with the remaining $132 million paid in “tiered cash payments.” The British manufacturer will also pay a minimum of $225 million for Lucid components.

“The supply agreement with Lucid is a game-changer for Aston Martin’s future growth led by electric vehicles.”

Lawrence Stroll, CEO of Aston Martin.

It is Lucid cars that stand out – in addition to design – with power and engine technology. The Air model, for example, has a variant with engines reaching 1200 horsepower And up Autonomy 800 km.

Aston Martin plans to launch its first all-electric car in 2025.

The engines and batteries that Lucid will supply to Aston Martin will further the British brand’s goal of: will launch its first all-electric car in 2025. A year earlier, yes, Aston Martin plans to announce Valhalla, a mid-engine plug-in hybrid supercar with 950 horsepower and Mercedes technology.

With this model, the manufacturer will begin the transition to the production of only hybrid and electric Aston Martin vehicles in 2026. All cars produced by the company from 2030 will be electric.

Cooperation, yes, is now in the hands of Aston Martin’s shareholders, who must approve the agreement. It is also in the hands of the regulators who have to give the green light.