Aston Martin has announced that it will be building its future EVs using Lucid technology. It will pay US$232 million in shares and cash to Lucid in exchange for EV powertrain components.
Lucid’s components will be used in a new Aston Martin electric car platform which will form the basis of various models including hypercars, sports cars, GTs and SUVs, the first of which will launch in 2025. Before that, a plug-in hybrid supercar called the Aston Martin Valhalla will launch in 2024.
The plan is to be a pure EV company by 2030. This is actually faster than previously announced, where the 2030 target was to be to have 50% of its cars to be battery electric vehicles, 45% performance-oriented hybrids and 5% combustion-powered vehicles limited to track use.
This is an interesting development considering Aston Martin is 17% owned by Geely, who itself could potentially supply these EV components to Aston Martin.
Geely’s Lotus Eletre is powered by a 800V electrical system. The Eletre R produces 905 hp and 985 Nm of torque, enabling a 0-100 km/h time of 2.95 seconds.
But Geely’s shareholding in Aston Martin is eclipsed by Saudi Arabia’s Public Investment Fund (PIF), that owns 18%. PIF happens to own 61% of Lucid. The Lucid Air has over 1,200 hp and a 0-100 km/h time of under 2 seconds.
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