Aston Martin Inks US-Saudi Electric Car Deal


Aston Martin has partnered with US-Saudi electric vehicle expert Lucid Group to produce the British company's high-end "green" vehicles. According to Aston, California-based Lucid will provide technologies, including battery systems, for roughly $232 million (213 million euros) in cash and shares.

Lucid would become a minor shareholder after the transaction, holding a roughly 3.7 percent ownership.Following a cash infusion from its national wealth fund, Saudi Arabia last year surpassed Japan as the second-largest shareholder in Aston.

The largest shareholder in Lucid Group is a Saudi fund. As of 2026, all of Aston's vehicles will come with electric choices, the company announced on Monday.The subject to shareholder approval tie-up announcement drove Aston's stock up 10% to 360 pence on the burgeoning London stock market.

James Bond's favourite car brand, Aston Martin, sustained significant losses in 2019 due to weak worldwide demand brought on by China's economic slowdown and Brexit. After the Covid epidemic, losses then picked up speed.

The automaker's biggest investor, Canadian billionaire Lawrence Stroll, prevented it from going bankrupt in 2020.Following a fresh capital infusion, Chinese automaker Geely this month rose to the position of third-largest shareholder in Aston Martin.

Aston Martin Lagonda Global Holdings PLC is a British company that creates grand tours and high-end sports cars. In 1913, Robert Bamford and Lionel Martin founded its forerunner. David Brown gave it direction starting in 1947, and in the 1950s and 1960s it grew to be linked with luxury grand touring automobiles as well as the fictional James Bond after he drove a DB5 type in the 1964 movie Goldfinger. 

Current Issue