Luxury British sports car maker Aston Martin is revving up its plans to build “The world’s most thrilling and highly desirable electric performance cars.” The automaker is teaming up with American EV startup Lucid in a long-term partnership to supply proprietary EV technology to help propel its electrification strategy.
Aston Martin and Lucid enter EV supply agreement
Through the long-term tech agreement, Lucid will supply Aston Martin with its state-of-the-art EV powertrain and battery systems.
Aston Martin will have access to Lucid’s proprietary EV powertrain technology, including its high-performance twin motor unit, battery tech, and Wunderbox charging system (including those used in the 516-mile EPA-est Lucid Air Grand Touring). The new partnership with Lucid will help Aston Martin reach its goal of launching its first purely electric EV model in 2025.
The deal, potentially worth over $450 million, will play a key role in its broader Racing Green sustainability strategy, which will see an over $2.5 billion (£2 billion) investment over the next five years to move from ICE to EV tech.
Lawrence Stroll, executive chairman of Aston Martin, said the new supply agreement is “a game changer” that will fuel Aston Martin’s future growth. Stroll added:
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.
Aston will pay Lucid access fees to use the tech in a combination of cash payments and Aston Martin shares, meaning Lucid will become a shareholder in the British sports car maker.
This supply deal is the first of its kind from Lucid, opening up the possibility of expanding the reach of its products into the mainstream.
Aston says Lucid’s EV tech will be at the center of its new in-house dedicated battery electric vehicle (BEV) platform. Robert Fedeli, chief tech officer at Aston Martin, 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.
The tech boss said Aston will continue to expand its in-house powertrain capabilities, allowing them to provide the “thrilling performance and intense driving experience we know that our customers love and expect.”
Aston Martin working with automakers to advance goals
Aston Martin also revealed Monday it would extend its partnership with Mercedes-Benz. Mercedes will continue to provide the automaker with access to a range of powertrains, including for its future generation of electric vehicles.
Stroll added:
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.
The news comes shortly after the British automaker revealed a long-term partnership with Geely, the parent company behind Volvo and Polestar.
After doubling its stake, Geely now owns 17% of Aston Martin, becoming its third-largest shareholder. Geely will provide a range of EV tech and a “deep understanding of the key strategic growth market of China.”
The company says with Lucid’s cutting-edge EV powertrain tech and advanced Mercedes-Benz electronic architecture, the future electrified Aston Martin will be propelled by sustainable, next-gen tech.
In particular, Aston says the advantages include exceptional battery system efficiency, inverter tech that controls the rate and efficiency of energy discharge and recuperation, and twin motor tech that facilitates infinitely tuneable four-wheel torque vectoring.
Aston Martin says its new EV platform will be the basis for the company’s future electric models, ranging from “hyper hypercars to sports cars, GTs, and SUVs,” the first is expected to launch in 2025. The iconic British sports car maker aims to offer a fully electrified (including hybrids) core range by 2030.
Electrek’s Take
The new supply agreement is a win-win for both Lucid and Aston Martin. Aston Martin will gain access to Lucid’s advanced EV tech to use to develop its own in-house platform for next-gen electric vehicles.
The new technology and platform will help fuel Aston’s EV goals while setting it on a path for long-term growth and success. Meanwhile, as a first for Lucid, the partnership could open the door for others to use to essentially lease its technology, creating another revenue stream.
The best part of all is that we will finally see an Aston Martin electric car (several of them, actually) in the next few years.