- Aston Martin and Lucid are working together, with Aston’s future EV set to use Lucid’s next-generation electric motors.
- An SUV and three sports cars are part of Aston’s EV plans, and some models could offer up to 1500 horsepower.
- Aston Martin’s first EV is expected to arrive in 2025.
News about Aston Martin in recent years has often felt like an automotive soap opera. In the past five years, the British sports car maker has gone through a poorly received IPO, parted ways with two CEOs, and acquired an increasing number of co-owners. Both Mercedes-Benz and Chinese giant Geely acquired joint stakes in a consortium led by Canadian billionaire Lawrence Stroll, who is also currently Aston’s executive chairman.
But now Aston has secured another equity partner as it looks towards an electric future, signing a deal with Lucid that will see the US EV maker supply much of the technology for Aston’s upcoming range of fully electric models. The first is promised as soon as 2025. In return, Lucid Motors will be paid $132 million in cash for its expertise and will also be given a 3.7 percent stake in Aston Martin worth another $100 million. It’s also guaranteed that Aston will buy at least $225 million in powertrain components.
Speaking to reporters at the company’s Gaydon HQ this afternoon, Stroll said that taking over Aston was proving to be the biggest challenge of his career. “Some things I understand, some things I clearly don’t understand,” he admitted. Those issues included dealing with excess inventory—shutting down production for nearly a year—and then raising the money needed to develop new models, with this including a technology supply deal with Mercedes.
The deal includes both the AMG-sourced V-8 engine and the Mercedes electronics architecture already used by Aston, but also makes provision for a deeper deal that will see Aston’s future EV models based on Mercedes expertise. That prospect has effectively ended with the new Lucid deal, although Stroll was quick to point out that existing Mercedes partnerships for pure combustion and hybrid powertrains will continue.
Aston Martin RapidE
Aston first tried to build an EV with the RapidE sedan almost 10 years ago. This was intended for limited production, although only one demonstrator was built. After that the company planned to create a new EV platform to support the Lagonda-branded model, although that model was abandoned when it faced its first financial crisis. But with luxury rivals including Bentley, Lamborghini, and Rolls-Royce working on electric models, Lucid’s expertise appears to offer Aston a potential shortcut to segment-leading performance.
No electric Aston will lack impulse. The upcoming three-motor Lucid Air Sapphire is set to have more than 1200 horsepower, but Lucid Group CEO Peter Rawlinson confirmed at the Aston briefing that the deal is actually for the company’s next-generation electric motor technology. Aston CTO Roberto Fedeli said that Aston is working on what will be its own scalable EV platform set to feature bonded aluminum construction similar to the technique that underpins the company’s internal combustion model. But Lucid will supply both the twin rear motors and compact battery cell technology that will allow a low-end pack to be created to suit Aston’s sleek design.
Motor Lucid Water Sapphire
Fedeli told reporters that Aston is working on developing its own front motor, with the EV set to use the version that will feature in the upcoming mid-engined plug-in-hybrid hypercar Valhalla. He also said the company is working on an active drag reduction technique in collaboration with Aston Martin’s Formula 1 team, which looks like the GMA T.50’s “line mode”. The four-motor layout will allow for torque vectoring at both ends, and the prospect of a peak power output of over 1500 hp.
Aston is also planning multiple EV models. The first will probably be a sleek SUV given the dynamics of the luxury market. Additionally, Stroll confirmed the plan is to create a different-sized EV similar to the brand’s three different front-engined sports cars. But, this is not an electric version of the combustion model like the Maserati GranTurismo Folgore. No wonder Aston also plans to radically overhaul its retail experience by opening a company-owned flagship store, its first in New York; they would need a lot of floor space just to show the full line.
Ahead of the arrival of the first EV in 2025, Aston has already confirmed it will replace all existing sports cars with new models; The already announced DB12 is set to be joined soon by successors to both the current Vantage and DBS. We can also expect a revised DBX that will include a plug-in hybrid option, with the Valhalla arriving next year as well. Before that, we’re also set to see an ultra-limited model created to celebrate Aston’s 110th anniversary this year.
Most important is the improving financial situation. Aston’s revenue is set to more than double between 2020 and 2022, with Stroll predicting that the company will be “cash flow positive” next year—bringing in more money than it is spending.
Could Aston Martin’s roller-coaster fortunes be set for the biggest climb yet?
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European editor
Mike Duff has been writing about the auto industry for two decades and calls the UK home, although he usually lives life on the road. He loves old cars and adventures in unexpected places, with career highlights including driving to Chernobyl in a Lada.