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Aston Martin renames Vantage GT3 after Porsche throws hissy fit

Porsche has a long history of using the name "GT3" for its hardcore, naturally aspirated 911 models, and that means it's certainly not going to share it with the likes of Aston Martin. See, it seems the arrival of the Aston Martin Vantage GT3 at the 2015 Geneva Motor Show didn't sit well with Stuttgart, which opted to lawyer up. According to Goodwood Road and Racing, attorneys from both sides of the Channel have been in discussion for months over the issue, with Porsche arguing it's been using the GT3 name since 1999, and that makes it theirs. Aston, though, argues that the FIA GT3 racing series makes the name fair game for road cars. Moreover, the Brits point out that the alphanumeric was in use well before Porsche got its mitts on it – GRR rightly points out the Lotus Esprit GT3 hit the streets three years before the 996 GT3. And while we're on the subject, Bentley has its own GT3, but we're guessing its status as one of Porsche's siblings means its immune to this kind of squabbling. Rather than getting into a knock-down, drag-out courtroom brawl with one of the Volkswagen Group's prized brands, though, Aston has taken the high road. The company will rechristen both the road-going Vantage GT3 and Vantage racer as the GT12. While Porsche is no stranger to aggressively protecting what it views as its closely held vehicle names, we have to admit, it seems like Aston actually has something of a case. Do you think the Brits were right to settle and change the Vantage's name, or should they have taken the fight to Porsche? Have your say in Comments.

Aston Martin to cut up to 500 jobs to reduce costs

LONDON — British luxury carmaker Aston Martin plans to shed up to 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels, it said on Thursday. The job cuts come just days after Aston Martin's second-largest investor reduced its stake in the company, and a week after it confirmed that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer. The 107-year old firm said the job losses reflected lower than originally planned production volumes and improved productivity across the business. An employee and trade union consultation process will be launched in the coming days. Aston Martin, famed for being fictional secret agent James Bond's car of choice, has seen its share price plummet since floating in October 2018. Last month it posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. "The measures announced today will right-size the organizational structure and bring the cost base into line with reduced sports car production levels, consistent with restoring profitability," it said. It said its first sports utility vehicle (SUV), the DBX, which is key to boost volumes and appeal to new buyers including more women, remains on track for deliveries in the summer and has a strong order book. Aston Martin is also reducing costs and removing non-critical expenditure in other areas, including contractor numbers, site footprint, marketing and travel. It said the restructuring is expected to deliver total annual savings of about 38 million pounds ($47.6 million). Restructuring costs are expected to be about 12 million pounds. Shares in Aston Martin, down 78% over the last year, closed Wednesday at 68.9 pence, valuing the business at 1.05 billion pounds.  

Aston Martin sheds light on its first two electric vehicles

Aston Martin's on-again, off-again electric car rollout is beginning to take shape. Bolstered by stakeholder Daimler, the British carmaker detailed the first two battery-powered models that it plans to bring to the market. Speaking to the Financial Times, company stakeholder Lawrence Stroll confirmed that at least two electric Aston Martin models are on their way after several false starts. One will be a sports car in the vein of the DB11, and the other will be an SUV. Both will be built in the United Kingdom, so they will not roll off a Mercedes-Benz assembly line, but neither's design has been finalized yet. Stroll affirmed that his team hasn't even decided what to call them. As we previously reported, both of these EVs are likely to use at least some technology borrowed from Mercedes-Benz. Daimler will increase its stake in Aston Martin to 20% by 2023, and it's granting the company access to its hybrid and electric powertrains in return. It's a win-win situation: on one hand, Aston Martin receives state-of-the-art turnkey components. On the other hand, Mercedes-Benz is able to leverage the benefits of economies of scale. It's still too early to tell precisely which parts Aston Martin will use to build its first electric cars. It could borrow a platform from Mercedes-Benz, it could use powertrain components (like batteries and motors), or it might sign up for both. "We're looking at all options," explained Stroll. Regardless, the company's much-hyped plans to recycle the decades-old Lagonda name to denote a luxurious sub-brand focused on electric cars have been canned. Tobias Moers, the company's CEO, confirmed that the first electric Aston Martin models will go on sale in 2025 or 2026. In the meantime, the company will launch several hybrids, including a fuel-sipping version of the DBX. Aston Martin needs to go electric, because it will no longer be allowed to sell cars powered by an internal combustion engine in its home country of England after 2030. It's not entirely phasing out its gasoline-powered models, however. Stroll previously stressed he doesn't think the internal combustion engine will ever fully disappear. Related Video: