Aston Martin tech deal is just the beginning, says Lucid (LCID) CEO

Lucid CEO says Aston Martin EV tech deal is just the beginning

June 28, 2023 7:59 AM EDT

By Nick Carey

LONDON (Reuters) - Lucid will pursue more deals to sell its luxury electric vehicle (EV) equipment as it looks to grow its technology supply business, its top executive said on Wednesday, adding its recent deal with Aston Martin is just the start.

The U.S. EV firm will provide Aston with technology including a rear drive unit with twin motors, battery modules and software for integrating systems under the agreement with the British luxury carmaker announced on Monday.

The parts will come from Lucid's plant in Arizona.... More

Lucid (LCID) gains as Saudi fund boosts investment

June 27, 2023 9:21 AM EDT

Shares 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

Stock market today: Dow closes lower as recession fears return

June 26, 2023 4:23 PM EDT

Investing.com -- U.S. stocks faded after struggling for direction all day, ending lower to start the final week of June.

At 16:08 ET (20:08 GMT), the Dow Jones Industrial Average was down 12 points or less than 0.1% while the S&P 500 was down 0.4% and NASDAQ Composite was down 1.2%.

Investors have sent stocks lower in recent trading sessions on fears that the Federal Reserve's aggressive stance on interest rates could lead the economy into a recession.

... More

Stocks are mixed amid recession fears ahead of inflation report

June 26, 2023 1:56 PM EDT

Investing.com -- U.S. stocks are mixed ahead of a key inflation report this week that could help set the tone for next months policy meeting at the Federal Reserve.

At 13:21 ET (17:21 GMT), the Dow Jones Industrial Average was up 43 points or 0.1% while the S&P 500 was down 0.2% and NASDAQ Composite was down 0.8%.

Investors have sent stocks lower in recent trading sessions on fears that the Fed's aggressive stance on interest rates could lead the economy into a... More

Midday movers: Carnival Corp., Lucid, Pfizer and more

June 26, 2023 12:45 PM EDT

Investing.com -- Stocks are mixed as investors look ahead to this week's inflation reading for May. Here are the market movers for June 26.

Carnival Corporation (NYSE: CCL) shares were down 9.5% after the cruise operator reported a... More

Lucid (LCID) announces partnership with Aston Martin, sees early gains

June 26, 2023 8:26 AM EDT

Shares of luxury electric vehicle maker, Lucid Group (NASDAQ: LCID) soared in pre-market Monday after the electric automaker announced that they have entered into an agreement with Aston Martin to establish a long-term strategic technology partnership with the purpose to accelerate the British automakers high-performance electrification strategy and long-term growth.

"This partnership will represent a landmark collaboration between Aston Martin, a storied marque with a rich history, including... More

Tesla, Alphabet fall premarket; Moderna, Lucid Group rise

June 26, 2023 8:14 AM EDT

Investing.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 EDT

Lucid 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 EDT

By 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