UK-based Aston Martin will be collaborating with California-based electric carmaker Lucid to begin production of “ultra-luxury high-performance electric vehicles” beginning in 2025. Aston Martin reached a deal involving both cash and shares which will give Lucid a 3.7% stake in Aston Martin.
The new Aston Martin-Lucid battery electric vehicle (BEV) models – which are expected to include hypercars, sports cars and SUV’s – are planned to launch in 2025, according to Aston Martin.
In addition to Lucid, Mercedes-Benz also holds a 9.4% stake in Aston Martin as part of a long-term arrangement between the two automakers that includes technology sharing and China-based automotive behemoth, Geely, holds a 17% stake in Aston Martin.
The executive chair of Aston Martin is Lawrence Stroll, the fashion-originated billionaire who took over the company in 2020 and who owns the Aston Martin Formula One team which employs his son, Lance Stroll, as one if its drivers along with Fernando Alonso.