Luxury automaker Aston Martin has entered into a groundbreaking agreement with electric vehicle (EV) manufacturer Lucid to utilize its advanced electric motors, batteries, and other technology for the development of Aston Martin’s future lineup of “ultra-luxury high-performance” EVs. This marks the first such deal for Lucid to supply components to other automakers, similar to its partnership with Rimac, which has provided batteries and other components to Aston Martin, Koenigsegg, and other manufacturers.
Lucid, known for its own debut electric car, the Air, which offers multiple versions starting at approximately $87,400, will provide Aston Martin with its proprietary electric powertrain technology. This includes the ultra-high-performance twin motor drive unit, advanced battery technology, and onboard “Wunderbox” charging unit. The collaboration will enable features like torque vectoring, innovative heat exchanger technology, and an upgraded battery system capable of delivering higher power output.
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.
Aston Martin’s collaboration with Rimac has already yielded results, with the lightweight battery system developed by Rimac being utilized in Aston Martin’s impressive 1,160 HP Valkyrie hypercar. In 2015, Aston Martin had previously partnered with LeEco to produce an electric version of the Rapide, but the collaboration was disrupted when LeEco encountered financial difficulties. Interestingly, LeEco had initially held a stake in Lucid, but its founder Jia Yueting was compelled to sell it due to liquidity issues.
Aston Martin’s strategic partnerships with Lucid and Mercedes-Benz, along with its own internal investments, underscore its commitment to advancing its electrification strategy. With access to cutting-edge EV technologies from two world-class suppliers, Aston Martin aims to deliver exceptional performance and innovation in its future electric vehicle offerings.
