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Aston Martin, Lucid to enter into agreement to make electric vehicles

Posted on AllSides June 25th, 2023
From The Center

June 26 (Reuters) - Luxury carmaker Aston Martin (AML.L) said on Monday it would enter into a strategic supply agreement with Lucid Group to manufacture "high performance" electric vehicles.

Under the terms of the proposed agreement, Aston Martin would issue about 28.4 million new ordinary shares and make phased cash payments to Lucid totalling about $232 million, while Lucid would become a 3.7% shareholder in the car maker.

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