In a move aimed at reducing costs and expediting the development of electric vehicles (EVs), luxury British carmaker Aston Martin has announced plans to obtain a selection of parts from its major shareholder, Geely. This revelation comes hot on the heels of Aston Martin’s substantial $450 million supply deal with EV manufacturer Lucid, wherein the company secured access to Lucid electric motors and battery packs.
Roberto Fedeli, Aston Martin’s development chief, disclosed that key components to be sourced from Geely include seats and HVAC systems. By leveraging its relationship with Geely, Aston Martin anticipates streamlining its supplier list by up to 30%, resulting in cost savings. This strategic collaboration will enable Aston Martin to introduce EVs to the market much faster than if it were to independently develop these parts.
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The announcement of the supply deal closely follows Geely’s decision to double its investment in Aston Martin, injecting an impressive £234 million ($295 million) into the company. This increased stake of 17% solidifies Geely’s position as the third-largest shareholder in Aston Martin, trailing only Saudi Arabia’s Public Investment Fund and Chairman Lawrence Stroll’s Yew Tree Investments.
As previously revealed, Aston Martin’s forthcoming EVs will incorporate the electric powertrain technologies pioneered by Lucid. These technologies encompass advanced battery systems, a high-performance twin motor drive unit, and an innovative charging unit known as the Wunderbox. Aston Martin’s in-house development of an entirely new Battery Electric Vehicles (BEV) platform will utilize these components for future hypercars, sports cars, GTs, and SUVs.
Furthermore, Aston Martin has reaffirmed its strong collaboration with Mercedes-Benz, securing continued access to the German automaker’s powertrain and electric/electronic architectures for both current and future models, encompassing internal combustion engine (ICE) vehicles and EVs.
Commenting on the deal, Lawrence Stroll expressed his confidence in Aston Martin’s access to cutting-edge EV technologies, stating, “We will not only leverage the significant investments Lucid has made to develop its world-class technologies, but will also further enhance and differentiate the drive experience through the work Roberto Fedeli and his teams are already developing, aligned with our ultra-luxury, high-performance strategy.”
This partnership with Geely and the utilization of Lucid’s EV technologies are crucial steps for Aston Martin as it embraces the rapidly evolving automotive landscape, ensuring its presence in the growing market for electric mobility. By combining innovative solutions from various industry leaders, Aston Martin aims to deliver exceptional performance and luxury to its discerning clientele.
