Lucid (LCID) announces partnership with Aston Martin, sees early gains
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Aston Martin tech deal is just the beginning, says Lucid (LCID) CEO
June 28, 2023 9:06 AM EDTU.S. luxury electric vehicle firm, Lucid Group (NASDAQ: LCID) revealed Wednesday that the automaker will pursue more deals to sell its equipment as the company looks to expand its growing technology supply business, CEO Peter Rawlinson said on Wednesday, adding its recent deal with Aston Martin is just the start.
On Monday, Lucid made an announcement stating that they have entered into an agreement to supply Aston Martin with advanced technology. This includes a rear drive... More
Lucid (LCID) gains as Saudi fund boosts investment
June 27, 2023 9:21 AM EDTShares of Lucid Group (NASDAQ: LCID) climbed as high as 7.6% in pre-market trading Tuesday morning after the luxury electric automaker revealed that Saudi Arabias sovereign wealth fund, The Public Investment Fund (PIF), acquired approximately 265.7 million shares of the EV manufacturer through a private... More
Tesla, Alphabet fall premarket; Moderna, Lucid Group rise
June 26, 2023 8:14 AM EDTInvesting.com -- Stocks in focus in premarket trade on Monday, June 26th. Please refresh for updates.
Tesla (NASDAQ: TSLA) stock fell 1.4% after Goldman Sachs downgraded... More
Lucid Group (LCID) enters technology partnership with Aston Martin
June 26, 2023 6:50 AM EDTLucid Group, Inc. (NASDAQ: LCID) announced that it has entered into a definitive agreement to establish a long-term strategic technology partnership with Aston Martin to accelerate the iconic British brand's high-performance electrification strategy and long-term growth.
The relationship, the first of its kind for Lucid, will give Aston Martin access to world-leading electric powertrain technology, which is engineered and manufactured... More
Aston Martin turns to US EV company Lucid for high-tech help
June 26, 2023 2:41 AM EDTBy Nick Carey and Aby Jose Koilparambil
(Reuters) -Aston 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%.
Under the agreement, Aston Martin will make cash payments and issue 28.4 million new ordinary shares to Lucid, worth together about $232 million.
The shift to electric is phenomenally costly, with carmakers globally committing around $1.2 trillion to the low-emission technology. Smaller carmakers like Aston Martin are more reliant on partnerships to make the... More
