Electric automaker Lucid announced a long-term agreement with luxury brand Aston Martin to supply electric vehicle powertrain and battery systems for the British sports car maker’s new EV platform, Lucid announced in a press release.
Aston Martin will use Lucid’s high-performance dual motor drive unit, batteries and 900-volt Wunderbox home charging unit. Lucid will also provide technical support to Aston Martin for integrating its EV technology into a new EV platform.
"The supply agreement with Lucid is a game changer for the future EV-led growth of Aston Martin," said Lawrence Stroll, executive chairman of Aston Martin, in a press release.
The deal with Aston Martin is Lucid Group's first agreement to supply another automaker with its proprietary powertrain technology. It mirrors Lucid’s original business strategy of developing and licensing EV technology to other automakers.
Aston Martin will pay Lucid access fees for its EV technology in the form of stock and phased cash payments resulting in Lucid becoming a shareholder in Aston Martin.
Lucid was founded in 2007 as Atieva by former Tesla VP and board member Bernard Tse and entrepreneur Sam Weng. Atieva originally focused on developing EV technology for other vehicle manufacturers. In 2016, the company changed its name to Lucid Motors and announced plans to develop a high-performance luxury EV, which resulted in the Lucid Air sedan.
Aston Martin aims to launch its first electric sports car using Lucid’s EV technology in 2025.
