Aston Martin Lagonda Global Holdings PLC (LSE:AML) is reportedly in talks with Britishvolt, an investor in battery cell technologies, over creating bespoke batteries for its vehicles.
A deal is slated to be completed within a few weeks, according to the Daily Mail.
The UK based company recently announced a partnership with sports car manufacturer Lotus to develop its first electric vehicle.
Rumours of a deal emerged following the unveiling of Aston Martins new AMR22 Formula One (F1) racing car this week by executive chairman Lance Stroll.
Stroll claims there has been a surge in sales since he announced he would revive Aston’s F1 work.
Britishvolt recently made headlines after it was announced it would be receiving £100mln of government funding towards the construction of its ‘gigafactory’ in Northumberland.
Investment firm Abrdn has also provided £1.7bn worth of funds, with warehouse group Tritax said to have a stake as well.
Britishvolt estimates the factory when completed will be able to produce roughly 300,000 batteries a year, while also creating 3,000 jobs for the northeast.