EV Maker Lucid Rides into EV Partnership With British Car Producer Aston Martin
Portfolio Pulse from Shivani Kumaresan
Lucid Group has entered into a definitive agreement to establish a long-term strategic technology partnership with Aston Martin. The deal, worth over $450 million, will see Lucid supply its electric vehicle powertrain and battery systems to Aston Martin, marking the first such relationship for Lucid's technology arm.
June 26, 2023 | 1:08 pm
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Lucid Group's partnership with Aston Martin to supply EV powertrain and battery systems is worth over $450 million, marking a significant milestone for the company. LCID shares are up 7.86% in premarket trading.
The partnership with Aston Martin is a significant milestone for Lucid Group, as it marks the first such relationship for its technology arm. The deal is worth over $450 million, which is a substantial amount for the company. This news is likely to have a positive impact on LCID's stock price in the short term, as evidenced by the 7.86% increase in premarket trading.
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