Shulou(Shulou.com)11/24 Report--

CTOnews.com June 26, British luxury sports car manufacturer Aston Martin said on June 25 that it would reach an agreement with Lucid, a "new force in car building" from the United States, and the two sides would work together to produce high-performance electric vehicles.

Under the terms of the proposed agreement, Aston Martin will issue about 28.35 million new common shares to Lucid and pay a total of about $232 million in cash to Lucid in stages, and Lucid will become a 3.7 per cent shareholder in Aston Martin.

The agreement also states that Lucid will provide Aston Martin with power systems and battery system assemblies for pure electric models.

CTOnews.com previously reported that Zhu Jiang, the former vice president in charge of user development and operations of Jidu Automobile, has joined the new US car-building force Lucid, in charge of the Chinese market. Mr Zhu said Lucid was just beginning to prepare for entry into the Chinese market.

In addition, as early as September 30 last year, Geely Holdings announced the completion of the acquisition of a 7.60% stake in Aston Martin, and Geely officially became an investor in Aston Martin.

Lucid is an American electric car manufacturer headquartered in Newark, California, USA. In addition to electric vehicles, Lucid also has energy storage technology and contract manufacturing and other businesses. The company was founded in 2007. As of September 2021, its first car, the Lucid Air, has been put into production and delivery will begin in October 2021.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.