Aston Martin Will Use Lucid Motors' EV Technology

•    Aston Martin confirmed an agreement with Lucid Motors to use its EV technologies.

Aston Martin is another of the more niche-market exotic-car manufacturers preparing to go all-electric. For a smaller company operating with more limited resources, the way to do this is often through a partnership. 

This week, we learn that the British automaker has entered an agreement with manufacturer Lucid Motors to use its next-generation battery for its future electric models. In fact, the fledgling American EV maker will supply a large part of its technology to Aston Martin. 

Aston Martin's first electric model is scheduled for 2025. 

The deal between Lucid Motors and Aston Martin

In exchange for its expertise, Lucid Motors will receive $132 million USD, plus gain a 3.7-percent stake in Aston Martin, representing an added value of $100 million. Aston Martin is also guaranteed to buy at least 225 million powertrain components from Lucid.

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