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Aston Martin makes RapidE electric car a limited edition after LeEco pulls out

Aston Martin was forced to scale back production plans for its first electric model after cash-strapped investment partner LeEco pulled out of the project, Chief Executive Andy Palmer told Reuters on Monday. The result, though, may be an even more exclusive car, aimed at customers who consider Tesla's top of the range $130,000 Model S to be a little too run of the mill. Aston Martin will build only 155 of its RapidE, about a third of the initial plan, and lean more heavily on Formula One engineering specialist Williams after the withdrawal of Chinese TV and smartphone vendor LeEco, Palmer said. The setback and Aston's response underscore the challenges and risks niche carmakers face as they scramble to address future demand for electrification from consumers and regulators. While the privately held Aston Martin brand benefits from the endorsement of fictitious spy James Bond, it lacks the backing of a large automotive parent that many rivals enjoy. "We've decided to make this car rare, which will obviously tend to push the price higher," Palmer said. "Aston Martin now plans to proceed independently, funding further development of RapidE by ourselves." Palmer agreed to be interviewed after sources told Reuters Aston Martin's partnership with LeEco had unraveled. Unveiling the alliance in February last year, LeEco and Aston pledged to launch an all-electric version of the Rapide S sedan in 2018. But the Chinese conglomerate has since slashed its electric car investments, including its U.S. startup Faraday Future's planned $1.3 billion factory in Nevada. Some Faraday suppliers, including seat maker Futuris and media provider Mill Group, have sued the company for non-payment, according to court records. Spokesmen for LeEco and Faraday did not respond to requests for comment on the end of the Aston partnership. Aston Martin declined to discuss its partner's business. $250,000 PRICE TAG Aston returned to profit in the first quarter, a decade after it was sold by Ford. Now owned by private equity groups Investindustrial and Kuwait's Investment Dar, the company is rolling out a new model each year under a taut recovery plan drawn up by Palmer, who joined from Nissan in 2014. Without LeEco's backing, the sports carmaker, based in Gaydon, Warwickshire, is pushing ahead as sole investor in the electric car, after paring down production and pushing back the launch date to 2019. The plan won board approval on June 21.

Roger Moore's 1970 Aston Martin DBS sells for $900k [w/video]

Think of Roger Moore zipping around Europe in an Aston Martin thwarting evil plans, and you'll probably think James Bond, right? Wrong. Because though 007 has driven a variety of Astons in the various films over the years, none of those were in the Moore era. He drove a Chevy Impala in Live and Let Die, a Mercedes in The Man With The Golden Gun, a Lotus Esprit in both The Spy Who Loved Me and For Your Eyes Only, a Range Rover in Octopussy and a Ford LTD in A View to a Kill. But that wasn't the only jet-setting do-gooder Moore played. He drove a Volvo as Simon Templar in The Saint, but after that and before his Bond days, he got his turn behind the wheel of an Aston in a television series called The Persuaders! The show starred Moore as Lord Brett Sinclair and Tony Curtis as American playboy Danny Wilde in a TV series that ran on both ITV in the UK and ABC in the US. It sadly only ran for one 24-episode season, but remains a cult classic. The series was as much about the cars as it was the stars, with Curtis speeding around Europe in a Ferrari 246 GT Dino and Moore in this yellow 1970 Aston Martin DBS. And it just sold at auction. As Octane pointed out when it drove the car for its September 2013 issue, the car was loaned to the show's producers and, though it packs the 4.0-liter inline-six of the DBS, was fitted with the wheels and badges of the Aston Martin V8 that followed – just without the eight-cylinder engine. It was sold to a private owner after the show finished filming and then bounced around different owners before collector and enthusiast Mike Sanders bought it and subsequently sold it to one Ed Stratton. Ed brought it back to show spec, took it to Villa d'Este, had Moore and Curtis sign the inside of the trunk lid, and now put it up for auction. The star of Bonhams' 15th annual sale at the Aston Martin Works in Newport Pagnell this past weekend, the DBS sold for a record GBP533,500 – equivalent to almost $900k at today's rates – contributing to GBP8.7 million ($14.6m) in total sales that day. Find the press release below, along with a video of a pretty great scene from The Persuaders! with both Moore and Curtis. ROGER MOORE'S 'THE PERSUADERS!' ASTON MARTIN SETS WORLD RECORD FOR A DBS SOLD AT AUCTION 17 May 2014, The Aston Martin Works Sale In its 15th year Bonhams Aston Martin Works sale totals at GBP8.7 million Roger Moore's 'The Persuaders!' Aston Martin DBS sets world record for DBS sold at auction, selling for GBP533,500.

Andy Palmer leaves Renault-Nissan to serve as CEO of Aston Martin

Aston Martin has been without a helmsman since Ulrich Bez stepped down from the chief executive office at the end of last year, stepping back to serve as non-executive chairman in a semi-retired ambassadorial capacity. The British automaker, now on the cusp of a new era, has been running without a CEO since, but has now named Bez's replacement in Andy Palmer.
If you don't recognize the name, you should: Palmer has worked under the Renault-Nissan Alliance for decades now, rising through the ranks to become one of the top executives under Carlos Ghosn. Most recently he was serving as executive vice president of the entire group and chairman of the Infiniti brand, but like Carlos Tavares, who recently left Renault to run Peugeot, Palmer is now embarking on a new mission as CEO of Aston Martin.
Once the transition period is complete at the start of October, Palmer's role as Chief Planning Officer at Renault-Nissan will be assumed by Philippe Klein, who steps up from his current role as executive vice president of product planning for Renault. Read the statements from both companies below.