Aston Martin announces strategic supply agreement with Lucid Group

Aston Martin (ARGGY) announced the formation of a new supply agreement with electric vehicle technologies company, Lucid Group (LCID). The proposed agreement announced this morning to the London Stock Exchange would see Lucid supply Aston Martin with electric vehicle technologies, the company said in a statement. Access to Lucid’s current and future powertrain and battery technology will be at the center of Aston Martin’s all-new in-house Battery Electric Vehicle platform. Lawrence Stroll, Executive Chairman of Aston Martin, said: “The supply agreement with Lucid is a game changer for the future EV-led growth of Aston Martin. 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… Along with Mercedes-Benz (MBGYY), we now have two world-class suppliers to support the internal development and investments we are making to deliver our electrification strategy. With the recently announced long-term partnership with Geely (GELYF), we will also gain the opportunity to access their range of technologies and components, as well as their deep expertise of the key strategic market of China.”