British luxury carmaker Aston Martin, whose hand-crafted cars feature in James Bond movies, on Monday signed a deal with U.S.-based electric vehicle maker Lucid Group to produce high-performance EVs.

The proposed supply agreement would see Lucid, which designs and manufactures advanced electric powertrains and battery systems, supply Aston Martin with electric vehicle technologies, according to the British carmaker's filing to the London Stock Exchange (LSE).

Access to Lucid's current and future powertrain and battery technology will be at the centre of Aston Martin's all-new in-house Battery Electric Vehicle (BEV) platform.

Aston Martin's electrification programme will see an investment of over 2 billion pounds in advanced technologies over the next five years, with investment phasing from ICE (Internal Combustion Engine) to BEV technology.

"The supply agreement with Lucid is a game changer for the future EV-led growth of Aston Martin. Based on our strategy and requirements, we selected Lucid, gaining access to the industry's highest performance and most innovative technologies for our future BEV products," says Lawrence Stroll, executive chairman, Aston Martin.

"Along with Mercedes-Benz, we now have two world-class suppliers to support the internal development and investments we are making to deliver our electrification strategy. With the recently announced long-term partnership with Geely, we will also gain the opportunity to access their range of technologies and components, as well as their deep expertise of the key strategic market of China," Stroll adds.

Aston Martin adaptable vehicle platforms will form the basis of the company's entire future electrified model range; from hypercars to sports cars, GTs and SUVs, the first of which is targeted for launch in 2025.

For a marque renowned for its internal combustion engines, the transition to hybrid and full battery-electric powertrains is an elemental challenge.

"Aston Martin will deliver its first plug-in hybrid – the mid-engined supercar, Valhalla – in 2024 and by 2026, all new Aston Martin model lines will feature an electrified powertrain option, with the long-term objective for its core range to be fully electrified by 2030," says Stroll.

Mercedes-Benz AG will continue to provide Aston Martin access to a range of technologies, including powertrain and electric/electronic architectures for current and future generation Aston Martin vehicles, including internal combustion engine, hybrid and electric vehicles.

"The proposed agreement with Lucid forms a significant pillar of our electrification strategy, providing Aston Martin with access to the industry's leading powertrain and battery systems technology. Combined with our internal development, this will allow us to create a single bespoke BEV platform suitable for all future Aston Martin products, all the way from hypercars to sports cars and SUVs," says Roberto Fedeli, chief technology officer of Aston Martin.

"Active aerodynamics and drag reduction will play an increasingly significant part in enhancing the efficiency and extending the range of any given BEV model. Likewise, intelligent powertrain management will extract the most miles from each charge, performance for longer being the overriding objective in every area of Aston Martin's BEV development," the carmaker says.

Follow us on Facebook, X, YouTube, Instagram and WhatsApp to never miss an update from Fortune India. To buy a copy, visit Amazon.