FILE PHOTO: The Aston Martin logo is seen on a V12 Vantage car at the company’s factory in Gaydon, Britain, March 16, 2022. Picture taken March 16, 2022. REUTERS/Phil Noble
British luxury carmaker Aston Martin has announced a groundbreaking partnership with Lucid Group to manufacture high-performance electric vehicles (EVs). This collaboration will see Lucid supply Aston Martin with select powertrain components for initial and future battery-electric vehicle (BEV) models.
Under the terms of the proposed agreement, Aston Martin will issue approximately 28.4 million new ordinary shares and make phased cash payments to Lucid totaling around $232 million. In return, Lucid will become a 3.7-percent shareholder in the renowned luxury car brand.
As Aston Martin’s chief technology officer, Roberto Fedeli, highlights, this partnership, alongside the company’s internal development efforts, will enable the creation of a single bespoke BEV platform suitable for all future Aston Martin products.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
