On the eve of its foray into the electrical vehicle (EV) market, Aston Martin has opted for US start-up Lucid Group for assistance with battery technology.
Reuters reported that on 26 June, Aston Martin announced that the company had reached a deal that will give US EV maker, Lucid Group, a 3.7% stake in the company in return for access to its "high performance" technology.
Subject to shareholder approval, Aston Martin will issue about 28.4 million new ordinary shares to Lucid Group. It will also make phased cash payments to Lucid totalling about $232 million.
The high costs of migrating to EVs have forced many smaller carmakers such as Aston Martin to become more reliant on partnerships to make the transition.
Aston Martin plans its first EV in 2025 and until now had leant on Mercedes as its “big brother” to provide the technology it needs.
In a separate announcement on the same day, Aston Martin said it had amended an agreement with Mercedes-Benz meaning the German carmaker would not increase its stake as planned but will maintain around 9% in Aston Martin and continue to provide it with access to engine and EV technology.
The agreement with Lucid, meanwhile, will give "access to Lucid's industry-leading technology for its (battery electric vehicles) BEVs, including electric powertrains and battery systems".
Lucid and Aston Martin have a common shareholder in Saudi Arabia's Public Investment Fund (PIF). The Saudi wealth fund became Aston Martin's second-largest shareholder last year.
PIF is also Lucid's main shareholder.
ZF Aftermarket has named Maic Dressen as Managing Director of ZF Services South Africa (Pty) Ltd and Sub-regional Head for Sub-Saharan Africa and the DomTom regions. He will lead the company’s South African operations and support its growth across the continent.
Volkswagen has marked 75 years of vehicle production and sales in South Africa with a gala event in Kariega attended by President Cyril Ramaphosa, while also revealing the new Volkswagen Tengo, the third model to be built at the local plant. The Tengo will be produced for the South African and wider markets.
BAIC South Africa used the Festival of Motoring 2026 at Kyalami Grand Prix Circuit to highlight both its established range and new energy vehicle ambitions. The event marked the first public appearance of ARCFOX in South Africa, alongside the unveiling of BAIC’s X55 Plug‑in Hybrid Electric Vehicle.
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Have you ever noticed that anybody driving slower than you is an idiot, and anyone going faster than you is a maniac?
George Carlin
BAIC South Africa used the Festival of Motoring 2026 at Kyalami Grand Prix Circuit to highlight both its established range and new energy vehicle ambitions. The event marked the first public appearance of ARCFOX in South Africa, alongside the unveiling of BAIC’s X55 Plug‑in Hybrid Electric Vehicle.
When Volvo introduced the XC40 Recharge Pure Electric to South Africa in late 2021, the timing raised eyebrows. The country was enduring a severe power crisis, with loadshedding recorded on 200 days that year.
Three months after launching its off-grid, solar-powered electric vehicle (EV) charging network on the N3 corridor, Zero Carbon Charge (CHARGE) has confirmed plans to double charging capacity at both Charge hubs.
