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

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Lucid stock bounces off record low after Aston Martin agrees to pay $232 million as part of supply agreement
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Shares of Lucid Group Inc. surged 7.3% in premarket trading Monday, a day after closing at a record low, after the electric vehicle maker and battery pack...

Shares of Lucid Group Inc.

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 UK:AML in which Lucid will supply Aston Martin with powertrain and battery system technology.

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 AML 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.

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