Aston Martin to launch first fully electric model in 2025
Posted by Tejas Kokcha on Jul 13, 2023
Aston Martin has announced that it will be launching its very first fully electric model in 2025. The British carmaker will be starting with an electrification programme, named “Racing. Green.” under which the firm will invest over £2 billion in advanced technologies over the next five years.
Deliveries for the much awaited mid-engined Aston Martin Valhalla will finally begin in 2024 after which the first electric model will be revealed in 2025. In 2026, all new Aston Martin models will be available with an electronic powertrain and by 2030, the Gaydon-based firm will become a fully electric automaker.
It is no secret that Mercedes-Benz has been supplying its V8 powertrain and bits and bobs of the interior for Aston Martins. However, while the German firm will still be giving Aston engines and electric architectures for the current range and next-gen cars, the electric powertrains will be coming from Lucid.
For those of you not familiar with the global EV market, Lucid is a California based firm which has shook the world - and the Tesla Model S - with its Air sedan and quite recently revealed a 1,200 hp+ Air Sapphire. So it does know a thing or two about electric powertrains.
Lucid Motors will be paid $132 million in cash for the powertrain tech it supplied to Aston Martin and will also be given a 3.7 percent stake in Aston Martin worth another $100 million. On top of that, it is guaranteed that Aston will buy at least $225 million worth of powertrain components from Lucid.
Lawrence Stroll, Executive Chairman of Aston Martin, said: “The supply agreement with Lucid is a game changer for the future EV-led growth of Aston Martin. Based on our strategy and requirements, we selected Lucid, gaining access to the industry’s highest performance and most innovative technologies for our future BEV products.”
“Along with Mercedes-Benz, we now have two world-class suppliers to support the internal development and investments we are making to deliver our electrification strategy,” he further added.