Aston Martin signs partnership deal to develop EV battery tech

March 7 (UPI) -- Aston Martin has signed a deal to help develop "high performance battery cell technology," the company announced Monday.

The British luxury car producer formalized a memorandum of understanding to develop the technology alongside Britishvolt, a British start-up company currently developing a large-scale factory in that country to produce EV batteries.

Aston Martin hopes to produce its first battery electric vehicle in 2025, and is aiming to have its core portfolio fully electrified by 2030.

The 109-year-old company calls the partnership "another step forward in its journey to electrification."

A joint research and development team will design, develop, and industrialize battery packs, including bespoke modules and a battery management system.

"This powerful collaboration combines Aston Martin's 109 years of engineering mastery with the expertise of a fast-growing UK technology business," Aston Martin Lagonda CEO Tobias Moers said in a statement. "Working together with Britishvolt, I believe we can create new technologies to power benchmark-setting Aston Martin electric cars that will match our reputation for high performance and ultra-luxury with the highest standards of sustainability."

The deal will not affect Aston Martin's previously signed deal with Mercedes-Benz to develop alternatives to the internal combustion engine, with the company calling the strategic technology agreement "complementary." That partnership has already been funded through existing capital expenditures.

"Supplementing the close strategic relationship with our shareholder Mercedes-Benz AG, this partnership provides Aston Martin with additional access to technology and skills to broaden our electrification options," Moers said. "We are proud to be partnering with a UK-based, low-carbon battery manufacturer as part of our ambition to be a leading sustainable ultra-luxury business, with a commitment to the Science Based Targets initiative Net-Zero standard."

Aston Martin will start delivery of it's first plug-in hybrid in early 2024. By 2026, all new product lines will have an electrified powertrain option.

"We are excited about the prospect of an all-electric Aston Martin powered by Britishvolt's low carbon, sustainable battery cells. Collaboration like this is the only way forward for a successful energy transition," Britishvolt CEO Orral Nadjari said.