Transitioning to electric power, even top-tier supercars are feeling the pressure.

On April 15th, it was an unforgettable day for the car community in Shanghai. Aston Martin, the top-tier supercar brand, celebrated its 110th anniversary by creating an "Aston Martin Avenue" at Zhang Garden, a cultural landmark in Shanghai, showcasing its current lineup of vehicles.

The highlight of the event was the debut of their first limited-edition hybrid supercar, Valhalla, with a price tag of nearly tens of millions of RMB. It is expected to be delivered worldwide later this year. This marks a significant step for Aston Martin in embracing electrification and transitioning to new energy sources.

In less than three months, Aston Martin announced its partnership with Lucid, an electric vehicle technology company, to further accelerate its electrification capabilities.

On June 26th, Aston Martin officially announced that it has signed an agreement with Lucid, a rising force in the American automotive industry. Aston Martin will issue approximately $100 million worth of shares (equivalent to approximately 720 million RMB) and provide $132 million in cash (equivalent to approximately 1 billion RMB) to gain access to Lucid's electric powertrain and battery system technologies.

Platformization is undoubtedly the cornerstone for large-scale and stable production in the automotive industry, and its importance cannot be overstated. Roberto Fedeli, CTO of Aston Martin, emphasized that the collaboration with Lucid is a crucial pillar of their electrification strategy. With the technology provided by Lucid, Aston Martin's pure electric platform will be able to accommodate various models, including supercars, sports cars, and SUVs.

In addition to the financial investment, Lucid will also become a shareholder of this prestigious supercar brand, holding a 3.7% stake. This demonstrates Aston Martin's sincerity in this partnership.

In April of last year, Aston Martin unveiled its "Racing Green" strategy, which outlined their plan to launch their first pure electric vehicle by 2025 and complete the electrification transformation by 2030.

However, compared to Porsche, which introduced the all-electric sports car Taycan as early as 2019, and other luxury brands such as Rolls-Royce and Lotus, which launched their electric models last year, Aston Martin seems to be lagging behind.

Perhaps the exchange of shares for technology is a necessary move for Aston Martin, given the immense financial burden of developing electric vehicles.

Automakers have already experienced the power of electrification, with top-tier manufacturers such as Mercedes-Benz, BMW, and Volkswagen investing billions of dollars in their transformation. Even domestic startups are investing billions annually in research and development.

Unlike Bentley, Porsche, and Lamborghini, which have the support of larger conglomerates like Volkswagen Group, Aston Martin, as a relatively independent "small and beautiful" automaker, lacks the financial resources to independently develop electric vehicles.

Years of struggling sales and financial difficulties have led Aston Martin to undergo seven bankruptcies and changes in ownership. Even after a successful IPO in October 2018, the company's financial situation has not significantly improved, with losses continuing to expand over the past two years. Operating losses have increased from £74.3 million (approximately 690 million RMB) in 2021 to £118 million (approximately 1.08 billion RMB).

Therefore, partnering with the technologically advanced Lucid is undoubtedly a shortcut for Aston Martin. And there aren't many car companies willing to share their core technology. Lucid, who accepted Aston Martin's olive branch, may have top-notch electric vehicle hardware technology and executives who have left Tesla to establish their own brand. However, they are also in need of funding to overcome production capacity and losses.

From this perspective, the apparent collaboration between these two top players in the automotive industry is actually a case of each party seeking mutual benefits and support.

With Lucid's technology, Aston Martin's development in the electric vehicle sector may accelerate. Chairman Lawrence Stroll has stated that the collaboration with Lucid is revolutionary for Aston Martin's future growth, which will be dominated by electric vehicles.

However, partnering with Lucid is just an insurance policy for electrification. If Aston Martin wants to regain its peak position and stand shoulder to shoulder with its competitors, it also needs to address its shortcomings in the Chinese market.

According to insurance data, Aston Martin's sales ranking among super luxury brands in China has dropped from third place in 2021 to fifth place last year, with only 774 units sold, accounting for only 10% of its global sales.

In contrast, top-tier super luxury brands such as Porsche, Bentley, Lamborghini, and Ferrari all benefited from the high-speed growth of the Chinese market last year, achieving their best sales and profit margins in history.

Clearly, the Chinese market offers greater potential. In addition to traditional luxury car manufacturers increasing their efforts in this market, domestic brands such as BYD and Aiways have also recognized the opportunities in this niche market and launched million-dollar supercars to claim a share.

Geely Auto, which currently holds a 17% stake in Aston Martin, may become the breakthrough point for expanding into the Chinese market.

In September last year and May this year, Geely Auto invested 66 million pounds (approximately 576 million yuan) and 234 million pounds (approximately 2.043 billion yuan) respectively to become the third largest shareholder of Aston Martin. This is the second supercar brand that Geely Auto has acquired, following the successful "resurrection" of another British sports car brand, Lotus, under Geely Auto's acquisition and operation.

Perhaps this experience will pave the way for Aston Martin's comeback in the future. Lawrence Stroll mentioned that the collaboration with Geely Auto will deepen their understanding of this crucial market in China.

With the support of these two top players in the new energy era, Aston Martin, which has had a bumpy journey, will determine its return to the peak through its sales performance. Aston Martin must seize the opportunities of this era in order to remain timeless for centuries to come.