Lucid and Aston Martin reach cooperation agreement to jointly advance electric vehicle powertrain technology

According to news on July 4, electric car manufacturer Lucid plans to reach similar deals with other car companies, following last week’s announcement to provide electric vehicle powertrain components and software to Aston Martin.

Lucid chief executive Peter Rawlinson said the company was actively looking to grow its technology supply business and saw the partnership with Aston Martin as the starting point for a new chapter. According to the editor's understanding, Lucid recently reached an intention cooperation agreement with Aston Martin. The American electric vehicle startup will provide Aston Martin with electric vehicle powertrain technology, including a rear drive unit with dual motors, Battery modules and software for integrated systems. The parts will be manufactured by Lucid in Casa, Arizona The factory in Grande carries out production and supply.

"This (transaction) truly launched a new chapter in Lucid Group's business," Rawlinson said in an interview with the media. He revealed last month that Lucid was in talks to license and sell its powertrain technology, but did not elaborate on timing or potential partners. As the Aston Martin deal hints, the company's initial focus will be on delivering high-performance, ultra-high-voltage technology for the non-mass market, but as EV technology becomes more widespread, a launch for the general consumer market is also possible. The product.

Lucid hopes to grow earnings by supplying its technology to other companies as it faces growing losses, dwindling cash reserves and a price war with Tesla. compete. Rawlinson also pointed out that although Saudi Arabia’s Public Investment Fund is Lucid’s majority shareholder and Aston Martin’s second-largest shareholder, the fund did not intervene in the cooperation. He stressed that Aston Martin had autonomous decision-making rights and that they independently selected what they believed to be the world's best technology. ”

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