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Weekly Recap: Aston Martin to add another sports car, new Lagonda sedan, EVs

Aston Martin will revamp and expand its lineup as part of a five-year plan laid out by the company's new executives. If it succeeds, the strategy will position Aston for growth as an independent automaker with a more stable future in its second century. Aston will replace all of the cars in its current lineup and add a fourth sports car to its stable. It currently has three: the DB9, Vanquish and Vantage. The unnamed sports car will be joined by a production version of the DBX concept – an all-wheel-drive electric car that treads near crossover territory – that was revealed at the Geneva Motor Show. Aston's electric strategy also includes a potential electric-powered Rapide. Eventually, Aston plans to build a new four-door Lagonda. Though Aston will diversify its portfolio and the range could expand to seven vehicles, it will limit production to around 7,000 units annually, said Aston Martin marketing and communications director Simon Sproule, who described the company's strategy in an interview with Autoblog. CEO Andy Palmer, who joined Aston last year from Infiniti, has also spoken recently about remaking the company for the future. EVs are a major part of Aston's future, Sproule stressed, because they allow the automaker to "balance" its portfolio. Aston is studying the feasibility of an electric Rapide and is working with an undisclosed engineering firm. It's likely to use a plug-in setup and would cost $200,000 to $250,000 or more. It could use either a rear-wheel or all-wheel-drive configuration. View 14 Photos "It's a study, but we're serious about it," Sproule said. He added for emphasis: "If not this, there will be an electric Aston Martin in the future." Aston has taken note of what Tesla has done with the brisk-driving Model S and decided that's the dynamic it wants for some of its own cars. Even though EVs don't emit the same sonorous note as a V12 – they're better than the alternative, Sproule said. "The sound of silence is much more preferable than the sound of a four-cylinder whining away under the hood of an Aston Martin," he said. Speaking of V12s, they're not going away. Aston will continue to make its own V12 engine, but will source its V8 from Mercedes-AMG (whose parent, Daimler, owns a small stake in Aston). While the V12 is sure to please the faithful, Aston admits EVs and the crossover-like DBX will rankle many. Sproule argues those are the moves that will keep Aston relevant.

Fisker is laying off 15% of staff and says it needs more cash ahead of a 'difficult year'

Electric vehicle startup Fisker is planning to lay off 15% of its workforce and says it likely does not have enough cash on hand to survive the next 12 months. The company says it is trying to find a way to raise that money as it works through a pivot from direct sales to a dealership model. "[W]e have put a plan in place to streamline the company as we prepare for another difficult year," founder and CEO Henrik Fisker said in a statement. Fisker reported more than 1,300 employees as of the end of September 2023, meaning the cut could affect close to 200 people. The company's share price plunged 35% in after-hours trading. Fisker said Thursday that it finished 2023 with $396 million in cash, though $70 million of that is restricted. The company says it is talking with one of its lenders about making "an additional investment" in the company. It also claims it is "in negotiations with a large automaker for a potential transaction which could include an investment in Fisker, joint development of one or more electric vehicle platforms, and North America manufacturing." A partnership like that will be crucial, as Fisker executives said on a call Thursday that it won't invest any more money in its future products unless it works with another automaker. That means the fates of a pickup truck, compact EV and other models that Fisker has teased are now in question. The company's financial struggles come as it is trying to move to a wholesale model built around partnerships with dealers, a shift that Fisker says has "negatively impacted" its sales so far. It's currently sitting on inventory of thousands of vehicles that are collectively worth more than $500 million. Fisker says it has received interest from around 250 dealerships but has only signed up 13 to date. Fisker has also been dealing with a number of problems with its Ocean SUV, its only model so far, as TechCrunch reported earlier this month. The company has said it resolved some issues with a software update in December and planned to fix many more in a larger 2.0 update earlier this month, but that only started making its way to customer vehicles this week. It is currently being investigated by the National Highway Traffic Safety Administration for reports of sudden brake failure, as well as for a handful of vehicle rollaway incidents. A number of big automakers are pulling back on their aggressive EV targets, and newer players are having trouble as well.

Henrik Fisker opens up about EVs

Danish car designer Henrik Fisker is an interesting figure in the automotive world. After heading up design at Aston Martin he created the initial design for the Tesla Model S before launching Fisker Automotive. There, he created the Karma range-extended electric sports car. As we all know, the company eventually went bankrupt, leaving Mr. Fisker's future in question. Now he's back on the scene with his $230,000 supercar, the VLF Force 1, which debuted at the 2016 North American International Auto Show in Detroit. Interestingly the V10-powered Force 1, along with VLF's V8-powered Destino, is a huge departure from the green machines for which Fisker was responsible not too long ago. If that makes you curious as to what's going on inside the talented head of Henrik Fisker, you're not alone. Thankfully, Fisker has opened up to Tech Insider, discussing his thoughts on EVs and the future of the automotive world. While Fisker was part of the EV revolution – in his words, showing that "electric cars can be beautiful and exciting and fun to drive" – mass adoption has been slower than he originally predicted. The field is still too limited, with not much available in terms of what people want to buy. The driving range, too, is a huge obstacle to EV uptake, but that is slowly improving. "The choice for consumers is still fairly limited, but in my mind there's no doubt electric cars are here to stay," says Fisker. "It is going to be a growing segment and it will continue to grow." Fisker, however, is bearish on hybrids, despite their popularity. In his opinion, "electric cars will take over a lot of hybrids quicker than people think now." In an interesting prediction that defies more commonly held beliefs, hybrids don't have a place as a transition to EVs anymore. As infrastructure grows – along with battery capacity – people will "jump straight from gas to electric rather than make the transition to hybrid which is what a lot of car companies are betting on." It's an interesting point of view, to be sure, especially coming from a man who just recently took a pretty big leap from electric cars back to supercars whose fury is fed by fossil fuels. Take a deeper look into the mind of Henrik Fisker in the piece from Tech Insider. Related Video: