A light change shook the oh-so-polite world of high-end European motorcars this week. Aston Martin introduced it might be taking on with startup electrical automobile (EV) firm Lucid Motors for future battery electrical automobile growth and stepping away from Mercedes-Benz’s EV know-how.

Aston Martin issued rigorously worded statements stressing the continued cooperation between the 2 producers. Lawrence Stroll, Aston Martin’s government chairman, stated, “I’m delighted to proceed our long-term partnership with Mercedes-Benz and recognize their ongoing assist of Aston Martin.”

Franz Reiner, Mercedes-Benz’s consultant on the Aston Martin board, stated, “As a long-term shareholder, Mercedes-Benz helps Aston Martin’s future growth as an unbiased luxurious carmaker. Immediately’s revised cooperation settlement is the perfect of each worlds: It ensures that Aston Martin continues to have entry to a variety of Mercedes-Benz applied sciences whereas on the identical time giving the enduring British carmaker the chance to discover new alternatives which match its particular wants.”

Mercedes-Benz owns roughly 9.4% of Aston Martin’s issued share capital.

A New EV Accomplice in Lucid

In a parallel announcement, Aston Martin revealed a brand new “strategic provide settlement to create industry-leading ultra-luxury high-performance electrical automobiles” with Lucid Group, Inc. The deal contains the problem of 28,352,273 new strange shares and phased money funds with a complete worth of round $232 million to Lucid, making the EV maker a 3.7% shareholder in Aston Martin. The settlement is topic to shareholder approval.

“The proposed provide settlement with Lucid is a sport changer for the longer term EV-led development of Aston Martin,” stated Stroll. “Primarily based on our technique and necessities, we chosen Lucid, getting access to the {industry}’s highest efficiency and most modern applied sciences for our future BEV merchandise.”

Lucid Group’s CEO, Peter Rawlinson, stated, “This partnership will signify a landmark collaboration between Aston Martin, a storied marque with a wealthy historical past, together with successful at Le Mans and its present successes in F1, and the perfect of Silicon Valley innovation and know-how from Lucid.”

Lucid Motors has roots at Tesla, as CEO Rawlinson and different firm leaders are former staff on the EV chief. Based in 2007 as “Atieva,” Lucid started delivering its luxurious sedan, the Lucid Air, to shoppers in late 2021. It boasts the longest vary of any EV sedan reported by the EPA — 520 miles.