Aston Martin will source a selection of parts from major shareholder Geely for its forthcoming range of electric vehicles.
The British car manufacturer made the revelation soon after it announced a significant $450 million supply deal with Lucid to use the EV maker’s electric motors and battery packs. Aston Martin will lean on Geely in a bid to cut costs while also allowing it to introduce EVs into the market much quicker than it would be able to do so if it were to develop parts on its own.
Speaking with Autocar, Aston Martin development chief Roberto Fedeli noted that key parts it will source from Geely include seats and HVAC systems. Aston Martin’s relationship with Geely could help it cut its supplier list by as much as 30%.
Read: China’s Geely Boosts Its Aston Martin Stake To 17%
News of this supply deal comes shortly after Geely doubled its investment in the firm, sinking in £234 million ($295 million) that brings its share up to 17%. This makes Geely the third largest shareholder in Aston Martin only behind Saudi Arabia’s Public Investment Fund and chairman Lawrence Stroll’s Yew Tree Investments.
As revealed earlier this week, Aston Martin’s future EVs will use the electric powertrain technologies developed by Lucid, including its battery technology, high-performance twin motor drive unit, and its advanced charging unit known as the Wunderbox. These components will be used in an all-new Battery Electric Vehicles (BEV) platform that Aston Martin is developing in-house for future hypercars, sports cars, GTs, and SUVs.
Aston Martin has also strengthened its ties with Mercedes-Benz, noting that the German firm will continue to provide it with access to its powertrain and electric/electronic architectures for current and future models, consisting of ICE vehicles and EVs.
Speaking of the deal, Lawrence Stroll said Aston Martin will now have access to the industry’s highest performance and most innovative EV technologies.
“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,” Stroll noted.
