First Aston electrics will be out in 2026.
models, Aston said. Mercedes AMG will continue to supply internal-combustion engines to Aston Martin but will also add its own hybrid and electric powertrains to the mix, Aston Martin said.in advanced technologies over the next five years, with investment phasing from ICE to BEV technology.
This particular deal is worth $450 million to Lucid, the luxury performance EV maker that has had a few struggles in the last year or so. In March Lucid cut 18% of its workforce. As most of the world’s luxury performance automakers introduce electric cars, both Lucid and EV juggernaut Tesla have faced stiffer competition that didn’t exist when Tesla launched and when the idea for Lucid was conceived.
Shares of Lucid Group bumped up a little to just over $6.00 on the news. The previous high for Lucid stock was $55 a share in 2021.Aston Martin Saudi Arabia’s Public Investment Fund holds a controlling stake in Lucid. Earlier this month Lucid raised an additional $3 billion with most of the money coming from the Saudis. Chinese automaking giant Geely, which already holds controlling interests in Volvo and Lotus, upped its stake in Aston Martin in May to 17%.
Aston Martin has said it will debut its first electric vehicle in 2025 and launch it on the market in 2026, though no details have been announced on that car or SUV. All Aston Martins will be fully electric by 2030, the company has said.
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