Aston Martin Partners With Lucid To Build An Electric SUV By 2025

JAKARTA - After successfully launching DBX707, an SUV that has astonishing strength and performance, Aston Martin has not finished trying to dominate the high-performance crossover market.

Different from DBX707, the SUV to be launched by Aston Martin is electric. It was confirmed that the premium automotive company from England will cooperate with Lucid as a supplier of electric motors and battery technology. This cooperation SUV is planned to be released in 2025.

The deal is worth 232 million US dollars or around IDR 3.4 trillion, which means Lucid will take 3.7 percent of stake in Aston Martin, which has awarded 79 million in equity to enable share ownership. The rest must be paid in cash installments between now and 2026. There are still 177 million more coming from Aston to pay components as an effective minimum purchase in what is said to be a long-term supply deal.

Having an option of an agreement with other shareholders like Mercedes-Benz, Aston Martin chose not to file it. Although the deal between Aston Martin and Lucid is running, it has absolutely no effect on Mercedes supplying powertrains and EV platforms for Aston Martin.

"After our due diligence, Lucid showcased the best available technology with the highest level of horse power and a more compact battery size," said Lawrence Stroll, Aston Martin CEO, as reported by Autocar, Monday, June 26.

This agreement with Lucid is considered by many to be an efficient solution for Aston Martin to launch a new model to any segment, especially since Lucid's battery is not large but has above average performance.

"Aston Martin's target is to build an electric vehicle with the highest performance and we find ourselves with Lucid, with the same mindset and very aligned. We are proud to be Lucid's partner," said Stroll.

Meanwhile, Roberto Fedeli, Aston Martin's Chief Technology Officer, inside the company's media space said the agreement with Lucid forms a significant pillar of the company's electrification strategy, granting Aston Martin access to powertrain and leading battery system technology in the electric vehicle industry.

"Combined with our internal development, this will allow us to create a dedicated BEV platform suitable for all future Aston Martin products, from hypercars to sports cars and SUVs," he concluded.