July 5, 2023
New York
CNN
—
British ultra-luxury sports car maker Aston Martin has signed a deal with Lucid Group, the California-based electric luxury car startup. Lucid will provide electric motors under the arrangement and battery systems for Aston Martin’s future electric vehicles.
Aston Martin announced last year that it plans to produce its first fully electric model by 2025. Saudi Arabia’s Public Investment Fund is the largest shareholder in Lucid and the second-largest in Aston Martin, after billionaire chairman Lawrence Stroll. Chinese automotive conglomerate Geely, which owns Volvo and Lotus, among other brands, doubled its stake in Aston Martin last month…