Lucid Scores a Sorely Needed Win With Aston Martin EV Order
The British carmaker spent several years evaluating the electric vehicle components that Mercedes and Lucid had to offer, and will go with the upstart.
The Lucid Air sedan at a New York showroom in August.
Photographer: Jeenah Moon/BloombergFor two companies struggling to stem losses and sort out operational issues, Aston Martin Lagonda Holdings Plc and Lucid Group Inc. are awfully boastful about their plans to join forces.
“I should be knighted for what I’ve done,” Aston Martin Chairman Lawrence Stroll told reporters Monday, hours after his carmaker said it would pay about $232 million to access electric vehicle components from Lucid. Combine that amount with the $225 million minimum that Aston Martin agreed to spend on Lucid parts, and it’s not far off the £408 million ($519 million) cash balance the UK company ended last quarter with.