Saudi Arabia-backed electric car manufacturer Lucid has announced a strategic technology partnership with British supercar maker Aston Martin. This collaboration aims to accelerate Aston Martin’s high-performance electrification strategy and long-term growth.
As part of the partnership, Aston Martin will gain access to Lucid’s world-leading electric powertrain technology, which is developed in-house. This technology will be used to power future Aston Martin battery electric vehicles, supporting the iconic British brand’s shift towards electrification.
Additionally, Lucid will provide technical support to Aston Martin in integrating its proprietary technology into a bespoke electric vehicle platform developed by Aston Martin. The partnership will also involve the supply of components necessary for the production of electric vehicles.
Peter Rawlinson, CEO and CTO of Lucid, expressed excitement about the collaboration, emphasizing the combination of Aston Martin’s rich history and Lucid’s Silicon Valley innovation and technology. Lawrence Stroll, Executive Chairman of Aston Martin, highlighted the significance of the partnership in driving the future EV-led growth of the company.
The partnership comes after the Public Investment Fund (PIF) of Saudi Arabia acquired a 16.7% share in Aston Martin in July 2022, making it the second-largest shareholder. As part of the new agreement, Lucid will also take a 3.7% share in Aston Martin.
The strategic technology partnership between Lucid and Aston Martin represents a significant step in the electrification of high-performance vehicles and marks a collaboration between two prominent players in the automotive industry.
