Shares of Lucid Group, Inc. (Nasdaq: LCID) surged over 5% in pre-market trading after announcing a long-term strategic technology partnership with Aston Martin.

The partnership involves the integration and supply of Lucid's advanced electric vehicle powertrain and battery systems, with contracts worth over $450 million.

Aston Martin will gain access to Lucid's proprietary electric powertrain technology and compensate Lucid with a combination of shares and cash payments. Lucid will become a shareholder in Aston Martin, and the two companies will establish supply arrangements for powertrain components and systems.

$LCID is currently trading at $5.84, up $0.37 (6.76%) in pre-market following the announcement.

In other news, Lilium N.V. (Nasdaq: LILM) said that it has received the Federal Aviation Administration (FAA) G-1 Certification Basis for the type certificate validation of its Lilium Jet.

This milestone aligns with Lilium's strategy of pursuing dual certification to enable global operations. The FAA G-1 award establishes airworthiness and environmental requirements, a critical step towards achieving FAA Type Certificate Validation.

In addition, Lilium is on track to obtain Type Certification with the European Union Aviation Safety Agency (EASA) by late 2025. Lilium is among the few eVTOL companies seeking dual certification in both the EU and the U.S., and it currently holds both EASA and FAA certification bases for a powered lift eVTOL aircraft.

In pre-market, $LILM is trading at $1.29, reflecting a gain of $0.03 (2.38%).

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