Aston Martin strikes deal with Lucid over EV batteries ...Middle East

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Aston Martin strikes deal with Lucid over EV batteries
LONDON: British carmaker Aston Martin has announced it has struck a deal with US company Lucid for the supply of electric vehicle batteries, reported German news agency (dpa). The Warwickshire-based company said Lucid – an electric vehicle manufacturer – will provide powertrain components for “initial and certain future BEV (battery electric vehicle) models”.Under the proposed agreement, Aston Martin would issue new shares and cash payments to Lucid worth £182 million (US$198 million), making the US-based business a 3.7 per cent shareholder.The agreement is subject to shareholder approval.Aston Martin is aiming to launch its first BEV in 2025.Executive chairman Lawrence Stroll said: “The pr

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