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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.

Aston Martin may have filed a trademark for a new logo [UPDATE]

UPDATE: Aston Martin did indeed file a trademark for the logo below, but company CEO Andy Palmer has confirmed it will be used for merchandise and won't replace the classic winged logo on cars. Here's Palmer's tweet: For those who reached out, we have no intention to remove/change the Aston Martin Wings.This logo is for merchandise https://t.co/iWdejAwO00 — Andy Palmer (@AndyatAston) January 23, 2017 "There's a shortage of perfect breasts in this world. It would be a pity to damage yours." Those words were spoken by Cary Elwes in the classic 1987 film The Princess Bride. Or, if you prefer, they were written by William Goldman in his book from 1973 by the same name. Either way, it doesn't matter. The point is, there aren't many things in this world that are perfect, and that have stood the test of time without alteration. The Aston Martin logo is one of those rare things. Apparently, Aston Martin filed a trademark application for a new logo. You can see it below. It's unclear where this design might make an appearance. If it's on pens, watches, or some other non-vehicular form, that's fine. If it's on the bonnet of a new supercar rolling down the line at Aston's plant in Gaydon, well... that's another matter entirely. Please, Aston Martin, your logo is perfect and has stood the test of time. Don't even think about changing it. Related Video:

Aston Martin Vanquish Zagato | Autoblog Minute

Aston Martin and iconic Italian design house Zagato teamed up to create a striking carbon-fiber-bodied concept set to debut at a glitzy concours on the shores of Lake Como, Italy, this weekend. Aston Martin Autoblog Minute Videos Original Video zagato aston martin vanquish zagato