Aston Martin to Utilise Lucid Powertrain for Electric Vehicles

Luxury automaker Aston Martin has forged a partnership with high-end electric vehicle (EV) manufacturer Lucid to gain access to advanced electric powertrain technology. Backed by the Saudi sovereign wealth fund, Lucid Motors boasts cutting-edge EV powertrains and battery technology, housing a team of former Tesla experts, including Peter Rawlinson, the former chief engineer of the Tesla Model S, who currently serves as the CEO and CTO of the Arizona-based company. In fact, the Lucid Air has received accolades for its superior performance and luxury compared to Tesla's latest offerings. Furthermore, its battery technology has been lauded as more advanced, demonstrated by the Lucid Air achieving the highest range in tests conducted by the US Environmental Protection Agency.

While Aston Martin is a late entrant in the electric vehicle market, having cancelled the Rapide E sedan, the company has plans to develop electric sedans, GTs, SUVs, and a hypercar that is expected to succeed the Red Bull F1-designed Valkyrie, under the guidance of Adrian Newey, the legendary chief technical officer. In a long-term arrangement, Aston Martin intends to adopt Lucid Motors' battery and motor technology. To support its racing green sustainability strategy, Aston Martin has allocated over $2.54 billion in funding, with the aim of electrifying its entire vehicle lineup by 2026.

Aston Martin's executive chairman, Lawrence Stroll, believes that Lucid's technology will be tailored to suit their ultra-luxury and high-performance objectives. The Lucid Air's tri-motor Air Sapphire edition, with over 1,200 bhp, can accelerate from 0 to 100 kmph in under 2 seconds and boasts a top speed exceeding 320 kmph.

As part of the agreement, Reuters reports that Lucid Motors will acquire a 3.7 percent stake in Aston Martin, with Aston Martin making phased cash payments totaling $232 million. This development follows Chinese automotive giant Geely doubling its stake in Aston Martin to 17 percent, and Mercedes' plans to increase its stake to 20 percent by year-end. It should be noted, however, that this partnership does not imply the cessation of technical support from Mercedes, which will continue to provide expertise in areas such as gearbox and internal combustion engine-based powertrains to Aston Martin.

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