Aston Martin Lagonda’s route to viability is a brain-teaser worthy of Q, James Bond’s quartermaster famous for turning everyday objects into whizzy tools. The 2.6 billion pound carmaker’s latest deal with $11 billion Lucid shows the marque made famous by the fictional spy is, however, making progress.
, and faces more competition from bigger premium brands, like Porsche. The risk is it gets left behind as the industry shifts away from combustion engines, and ramps up spending on software.
The deal with Lucid – majority-owned by the PIF, handily enough – will make Aston’s ambition to roll out its first electric vehicle by 2025 more credible. It’s a cheaper and less dilutive way to insource technology than a previous deal inked with Mercedes-Benz. Lucid will receive shares worth 3.7% of Aston’s total, just over a third of the additional 10% stake Mercedes would have received, and a commitment to buy the U.S. group’s powertrain and battery systems.
The deal sent Aston shares up over 9% in early Monday trading. The group is still valued at around 12 times 2023 EBITDA, around half Ferrari’s multiple, using Refinitiv forecasts. That discount may not close soon, but at least there’s now a plan of sorts.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Used car buying guide: Aston Martin V8 | AutocarThe Aston Martin is a hairy-chested, patriotic ’70s supercar that exudes sophistication - but it isn't for the faint-hearted. Here's our used buying guide:
Leer más »
Aston Martin Lagonda to Enter Agreement With Lucid to Make Luxury Electric VehiclesBy Anthony O. Goriainoff Aston Martin Lagonda Global Holdings said Monday that it intends to enter into a strategic supply agreement with Lucid Group for the...
Leer más »
Aston Martin partners Lucid for upcoming electric cars | AutocarUS-based EV start-up to supply powertrain and battery components for electric Astons
Leer más »
Aston Martin makes deal with Lucid to develop electric carsLucid will supply Aston Martin with EV tech to help develop the Brit brand's first battery-electric car for 2025
Leer más »
Aston Martin turns to US EV company Lucid for high-tech helpAston Martin has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group a 3.7% stake in return for access to its 'high performance' technology, the British company said on Monday, sending its shares up nearly 15%.
Leer más »
Lucid is going to power Aston Martin's future EVs | EngadgetAston Martin plans to build 'ultra-luxury high-performance' EVs using Lucid's electric motors, batteries and other technology..
Leer más »