Aston Martin’s decision to partner with Lucid was the result of a competitive selection process. Lawrence Stroll, Aston Martin’s executive chairman, hailed the supply agreement with Lucid as a transformative development for the future of Aston Martin’s EV-focused growth. Stroll stated, “Based on our strategy and requirements, we selected Lucid, gaining access to the industry’s highest performance and most innovative technologies for our future BEV products.”
In 2020, Aston Martin had abandoned its plans to produce an all-electric Rapide E, citing the need to achieve financial stability before launching any EVs. Lawrence Stroll, a Canadian billionaire and owner of the Aston Martin F1 team, acquired a 25 percent stake in Aston Martin in the same year. Mercedes-Benz currently holds a 9.4 percent ownership stake in Aston Martin and has expressed intentions to increase it to 20 percent by 2023. As part of the agreement, Mercedes-Benz granted Aston Martin access to its hybrid and electric powertrain technology. The nature of the relationship between Lucid and Mercedes-Benz remains unclear.
