Aston Martin Forms Partnership with Lucid Group for High-Performance EV Technology

Aston Martin has reached an agreement with Lucid Group, a U.S. electric vehicle (EV) manufacturer, giving Lucid a 3.7% stake in Aston Martin in exchange for access to its high-performance technology. This deal includes cash payments and the issuance of new ordinary shares to Lucid, totaling around $232 million. 

Aston Martin, like other carmakers, is facing the expensive transition to electric vehicles and relies on partnerships to facilitate this shift. The company plans to release its first EV in 2025 and previously relied on Mercedes-Benz for technology support. Additionally, Aston Martin has amended its agreement with Mercedes-Benz, with the German automaker maintaining a stake of around 9% and providing access to engine and EV technology. 

Aston Martin aims to have all its new models include an electrified version by 2026 and a fully electric core vehicle range by 2030.