Aston Martin Lagonda – just look at them go, absolutely electrifying, accelerating the shares over 10% higher.
Ahead of tomorrow’s Capital Markets Day for institutional investors and researchers Aston Martin Lagonda Global Holdings (LON:AML) has today announced a significant advance in the luxury car maker’s strategy.
It has entered into an important supply agreement with the Lucid Group to create industry-leading ultra-luxury high-performance electric vehicles.
The cash and shares deal, which has a £182m cost to the group, covers integration and supply agreements that would provide Aston Martin with access to Lucid's industry-leading technology for its battery electric vehicles, including electric powertrains and battery systems.
Aston Martin's iconic brand, ultra-luxury craftsmanship and high-performance in-house engineering excellence, with Lucid's advanced technologies and expertise in luxury electric vehicles, would create an unrivalled combination with the capabilities to re-define the customer experience for future Aston Martin BEV products.
The £2.6bn capitalised group’s shares are up over 10% this morning, in reaction to the news, now trading at around the 360p level, after touching 372p at one stage.