Aston Martin Turns To A US Startup For EV Help
Portfolio Pulse from Upwallstreet
Aston Martin partners with Lucid Group to accelerate its high-performance EV strategy. Lucid will provide powertrain components and systems, gaining a 3.7% stake in Aston Martin. The collaboration will help Aston Martin launch its first all-electric model in 2025.
June 26, 2023 | 2:34 pm
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NEUTRAL IMPACT
Tesla continues to lead the EV industry, with other automakers like Aston Martin and Lucid Group forming partnerships to accelerate their EV strategies.
While Tesla remains the leader in the EV industry, the partnership between Aston Martin and Lucid Group is not expected to have a direct impact on Tesla's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Aston Martin partners with Lucid Group for EV technology, which will help launch its first all-electric model in 2025 and support its Racing.Green sustainability strategy.
The partnership with Lucid Group will provide Aston Martin with advanced EV technology, accelerating its EV strategy and helping it launch its first all-electric model in 2025. This collaboration is expected to have a positive impact on Aston Martin's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lucid Group partners with Aston Martin, providing powertrain components and systems, and gaining a 3.7% stake in the luxury automaker. The deal will provide Lucid with financial stability.
The partnership with Aston Martin will provide Lucid Group with a 3.7% stake in the luxury automaker and financial stability. This collaboration is expected to have a positive impact on Lucid's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100