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AMGDF / Lucid stock bounces off record low after Aston Martin agrees to pay $232 million as part of supply agreement

Lucid stock bounces off record low after Aston Martin agrees to pay $232 million as part of supply agreement
Shares of Lucid Group Inc. LCID, -4.54% surged 7.3% in premarket trading Monday, a day after closing at a record low, after the electric vehicle maker and battery pack maker disclosed an agreement with Aston Martin Lagonda Global Holdings PLC ARGGY, -2.81% AML, +8.92% in which Lucid will supply Aston Martin with powertrain and battery system technology. Under terms of the agreement, Aston Martin will pay a $232 million technology access fee to Lucid, including $100 million in shares of Aston Martin and $132 million in cash over a three-year period. Read More
Posted: Jun 26 2023, 06:47
Author Name: Market Watch
Views: 110559

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LCID Stock: CEO Rawlinson Teases More Luxury Deals to Come

By InvestorPlace
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