Aston Martin Gets Saudi Battery in Electric Cars

31

Sports car manufacturer Aston Martin will use American-Saudi batteries for its electric cars. The British brand has agreed worth more than 200 million euros with Lucid, primarily financed by the Saudi state.

 

For example, Aston Martin wants to become less dependent on Mercedes technology.

The batteries from California-based Lucid are available immediately. Aston Martin will release its first hybrid model, Valhalla, early next year. The following year, the first fully electric car appeared. In 2030, Aston Martin wants to make only battery-powered cars.

Lucid, 49 percent owned by the Saudi sovereign wealth fund, will have a stake of just under 4 percent in Aston Martin through the deal. Due to persistent financial problems, Aston Martin has looked for outside investment several times. The Saudi state, among others, has an 18 percent interest in the British producer, which Lawrence Stroll has led for about three years.

The German Mercedes will also continue to provide technology for the electric Aston Martins but will not have the necessary parts available until 2025. Aston Martin entirely depends on Mercedes technology for the DB12 model, among other things.

Leave A Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.