British ultra-luxury brand joins forces with Lucid for EV roll-out as Mercedes-Benz partnership cools
Aston Martin will partner with US-based electric vehicle start-up brand Lucid for its next-generation battery-electric vehicles.
In a statement issued overnight, the British ultra-luxury brand revealed it will develop an all-new EV platform that leverages Lucid’s technology.
As part of the agreement Lucid will receive Aston Martin stock and cash payments. The partnership also sees Mercedes-Benz’s stake in Aston Martin stalled at the current level – around 9.7 per cent.
Aston Martin insiders confirmed to carsales during the launch of the new twin-turbo 4.0-litre AMG V8-powered Aston Martin DB12 in France earlier this month that a long-term engine agreement had been struck with Mercedes-AMG.
But the DB12 ‘Super Tourer’ also marks a separation of sorts from the German giant, introducing Aston’s own infotainment interface as well as unique chassis and other systems, which will also be used in the next DBS, Vantage and the all-new Valhalla supercar.
Aston Martin F1 recently accounted it would partner with Honda from 2026, dumping Mercedes’ Formula 1 powertrain. The Lucid deal signals further separation from the Daimler group.
Lucid and Aston Martin have shared ownership via the Saudi Arabia’s Public Investment Fund. The PIF owns a large share of the US EV-maker and provided the 110-year-old British brand with a $A1.14 billion cash injection in July 2022 in return for a 16.7 per cent share of Aston, whose largest shareholder remains chairman Lawrence Stroll at about 18 per cent.
Aston’s statement regarding the Lucid deal outlines a new modular EV platform that will underpin a “future portfolio of ultra-luxury high-performance electrified Aston Martin hypercar, Sports, GT and SUV models”.
It states the agreement with Lucid includes “access to industry-leading technologies and [a] long-term relationship whereby Lucid will supply Aston Martin with select powertrain components for initial and future BEV models”.
Aston Martin chief technology officer Roberto Fedeli said: “The proposed agreement with Lucid forms a significant pillar of our electrification strategy, providing Aston Martin with access to the industry’s leading powertrain and battery systems technology.
“Combined with our internal development, this will allow us to create a single bespoke BEV platform suitable for all future Aston Martin products, all the way from hypercars to sports cars and SUVs.
“We will continue to expand our in-house powertrain capabilities, allowing us to provide the thrilling performance and intense driving experience we know that our customers love and expect from Aston Martin,” Fedeli stated.
Aston says it will leverage its own F1 learnings and partners such as Brembo in creating its future electric vehicles.
Stroll said the Lucid deal was a “gamechanger” for the brand.
“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 and his teams are already developing, aligned with our ultra-luxury, high-performance strategy,” he said.
“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.
“With the recently announced long-term partnership with Geely, we will also gain the opportunity to access their range of technologies and components, as well as their deep expertise of the key strategic market of China,” Stroll stated.
Aston Martin is targeting the launch of its first EV in 2025, following the launch of the plug-in hybrid Valhalla supercar in 2024, and claims all of its model lines will “feature an electrified powertrain option” by 2026.
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