Aston Martin faces so much drama, it’s not even funny. They received a poor IPO, separated from two separate CEOs, and has increased in it’s number of co-owners. Additionally, Mercedes-Benz and Geely had been able to acquire stakes. All while the consortium had been led by Lawrence Stroll. The Canadian Billionaire decided the best thing to do would be to sign a deal with Lucid.
That way, the U.S. EV maker can handle giving away so much technology for Aston Martin’s range fully-electric models. The primary model is promised as quickly as 2025. As a return, Lucid Motors is likely to pay about $132 million in cash for their expert perspective given that they will also have a 3.7 percent stake in Aston Martin, which in itself will be worth $100 million. There’s also much certainty behind the fact that Aston Martin is looking to buy even more in powertrain components. In itself, this will accomplish about $225 million.
Aston Martin has been trying this for the longest time.
Nearly a decade ago, Aston had made their most valiant effort to create an EV by the name of the RapidE. It was going to be manufactured in a limited quantity. Yet only one rolled off the assembly line.
But with Lucid by their side, Aston Martin can stop dreaming and start imagining their dream rides come alive.
At Gaydon Headquarters, the CEO of Aston Martin assured everybody this would be the smartest move.