The Aston Martin deal kicks off Lucid Group's EV tech supply business, Peter Rawlinson said.
After announcing last week that it will supply Aston Martin with EV powertrain components and software, Lucid Group says it plans to pursue similar deals with other OEMs as well.the recently announced deal with Aston MartinThe US EV startup will supply Aston Martin with EV powertrain tech including a rear drive unit with twin motors, battery modules, and software for integrating systems. The parts will be supplied from Lucid's plant in Casa Grande, Arizona.
was in talks on licensing and selling its powertrain technology, but didn't go into specifics regarding timing and potential partners. As the Aston Martin deal suggests, the company's initial focus will be on providing high-performance, ultra-high voltage technology not suitable for the mass-market, Rawlinson said.Going forward, Lucid's business licensing parts should grow as the company moves to more mass-market models.
Lucid could stand to gain a lot from a growing business of supplying technology to other companies as the EV startup has been battling increasing losses, dwindling cash reserves and a price war started by Tesla. Lucid's initiative is similar to that of Croatian electric sports car maker Rimac, which has also supplied parts to Aston Martin and is
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