Lucid and Aston Martin have recently entered into a long-term strategic technology partnership aimed at integrating Lucid’s state-of-the-art electric vehicle powertrain and battery systems. This landmark agreement, worth over $450 million, signifies a pivotal moment for Lucid Group’s technology arm, as it expands the company’s product reach and opens doors for future applications in the mainstream market.
Under this collaboration, Aston Martin gains direct access to Lucid’s proprietary electric powertrain technology, including their highly acclaimed ultra-high performance twin motor drive unit, revolutionary Wunderbox, and renowned battery technology. This access will revolutionize Aston Martin’s offerings and propel them into a new era of electric innovation.
To facilitate this partnership, Aston Martin will compensate Lucid with a combination of shares and phased cash payments as technology access fees, resulting in Lucid becoming a shareholder in Aston Martin. Additionally, Lucid and Aston Martin will establish supply arrangements for Lucid’s powertrain components and systems, further solidifying their joint commitment to advancing the electric vehicle industry.
This collaboration not only represents a pivotal moment for both Lucid and Aston Martin but also holds immense promise for the future of electric vehicles. By leveraging Lucid’s cutting-edge technology, Aston Martin is poised to deliver groundbreaking electric vehicles that push the boundaries of performance and sustainability.
Lucid Group, Inc. (NASDAQ: LCID), renowned for redefining luxury electric experiences with its award-winning Lucid Air, announced today the establishment of a definitive agreement for a long-term strategic technology partnership with Aston Martin. This groundbreaking collaboration aims to accelerate Aston Martin’s high-performance electrification strategy and foster long-term growth for the iconic British brand.
As the first partnership of its kind for Lucid, this agreement grants Aston Martin exclusive access to Lucid’s world-leading electric powertrain technology. Designed and manufactured in-house by Lucid, this cutting-edge technology will power future Aston Martin battery electric vehicles, driving them towards a new era of performance and sustainability. Additionally, Lucid will provide technical support to Aston Martin in integrating its proprietary technology into a bespoke, all-new electric vehicle platform developed by Aston Martin, along with the supply of Lucid components.
Peter Rawlinson, CEO and CTO of Lucid, expressed his excitement about the partnership, stating, “This collaboration represents a historic milestone, combining the rich history and achievements of Aston Martin, including Le Mans victories and current Formula 1 success, with the innovation and technology prowess of Silicon Valley’s finest, Lucid.” Rawlinson highlighted the significant benefits Aston Martin will gain by adopting Lucid’s world-leading electric drivetrain technology, exemplified by the impressive 516-mile EPA-estimated range achieved by the Lucid Air Grand Touring.
Lawrence Stroll, Executive Chairman of Aston Martin, emphasized the transformative nature of the supply agreement with Lucid, stating, “This partnership with Lucid is a game changer for Aston Martin’s future growth in the EV sector. By selecting Lucid, we gain access to the industry’s most innovative and high-performance technologies for our forthcoming BEV products, aligning perfectly with our strategy and requirements.”
Through a competitive selection process, Lucid was chosen by Aston Martin to provide advanced electric powertrain technologies, including its renowned ultra-high performance twin motor drive unit, groundbreaking battery technology, and revolutionary Wunderbox. The twin motor rear drive unit combines immense power with torque vectoring, surpassing the capabilities of a passive all-wheel-drive system. These technically innovative electric motors incorporate Lucid’s microjet stator cooling, wave winding, new heat exchanger technology, heightened coolant flow rate, and an upgraded battery system designed for higher power and precise thermal logic.
This partnership exemplifies Lucid’s dedication to equipping Aston Martin with the finest technology available, propelling the brand towards its goal of launching the first pure electric Aston Martin model in 2025, while supporting the brand’s broader Racing Green sustainability strategy. Furthermore, this agreement marks the first car manufacturer relationship for Lucid’s technology division, expanding the reach of its products and paving the way for future mainstream applications of its revolutionary electric powertrain technology. Lucid recently unveiled a power-dense electric drive unit tailored for motorsports.
The commencement of this relationship is contingent upon the approval of Aston Martin’s shareholders, as well as the receipt of relevant regulatory approvals and customary conditions.