2009 Aston Martin Dbs on 2040-cars

Auto blog

Aston Martin to cut 15 percent of workforce

Aston Martin has announced it will slash nearly 300 jobs, or about 15 percent of its total workforce, as part of a cost-cutting bid. The changes aren't going to come on the factory floor, though. Instead, according to the Unite trade union, the majority of firings will involve white collar employees – administrators, managers, and the like – at the company's headquarters in Gaydon, England, Bloomberg reports. In an emailed statement to the business outlet, Aston Martin said eligible employees will be offered early retirement options. While Aston said there'd only be 295 employees released, Unite put the number at no more than 314. "Collective consultation with employee representatives, including Unite, has begun and the company is working with them to minimize the risk of compulsory redundancies," the union told Bloomberg. Aston Martin added that this move will have no impact on the company's production figures, although it's unclear what it could mean for future vehicles, like the production DBX and upcoming DB11. Related Video:

Aston Martin documentary tells development story of Vantage GTE racer

Aston Martin doesn't merely go racing, the carmaker's name enshrines racing: Company co-founder Lionel Martin conquered the Aston Hill Climb in 1914 with a tuned Singer automobile; when Lionel needed a name for the car he built with funding from Robert Bamford, Lionel's wife suggested "Aston-Martin." That makes the Vantage GTE racer that will enter the 2018 FIA World Endurance Championship not only an obvious descendant, but a necessary one. To show us what went into the new standard-bearer, Aston Martin produced a nine-minute documentary on the Vantage GTE's development. The endurance challenger replaces the six-year-old V8 Vantage GTE race car that — even at the end of its development path — took WEC team honors in 2016 and class victory at Le Mans this year. The short doc visits Aston Martin Racing over the course of 18 months spent creating the new Vantage GTE, finding out how the road car got upgraded to race spec, what new partners like Ohlins and Alcon provided, and revealing that electrical wiring can't be mapped out entirely in CAD beforehand, the wiring has to be laid into the chassis by hand in order to find the shortest paths. The Vantage GTE rings in at 2,745 pounds dry, roughly 500 pounds lighter than the Vantage road car. The AMG-sourced twin-turbo V8 gets around 536 horsepower and 516 pound-feet of torque depending on circuit regulations, and shifts through an Xtrac six-speed sequential transmission with a carbon fiber driveshaft. Ohlins created a five-way suspension, Alcon supplies the brakes, clutch, and limited-slip differential, the Akrapovic inconel exhaust exits just behind the front wheels, and 18-inch forged magnesium TMS wheels wear Michelin tires. Unanimous feedback from the drivers says the new racer is already more durable, more torque-y, and more reliable than the one it replaces. The Vantage GTE debuts on track at the 6 Hours of Spa on May 5, 2018. You can watch it now in the video above. View 16 Photos Related Video: News Source: Aston Martin via YouTube Motorsports Aston Martin Coupe Racing Vehicles Videos fia wec world endurance championship aston martin vantage aston martin vantage gte

Mercedes F1 boss Toto Wolff takes a stake in Aston Martin

LONDON — Mercedes Formula One boss Toto Wolff has taken a stake in British sportscar maker Aston Martin, whose executive chairman Lawrence Stroll runs the Racing Point F1 team, according to company filings. A Mercedes F1 spokesman said Wolff's move was purely an investment on the Austrian's part and would be diluted by a rights issue on Monday from 4.77% to less than 1%. "Fully diluted following the pending rights issue, this investment will represent a 0.95% stake in the company," he added. "It is a financial investment and Toto's partnership and executive role with Mercedes are unaffected by the transaction." Swiss billionaire Ernesto Bertarelli has also bought a 3.38% stake which will be similarly diluted. Wolff previously had a 16% shareholding in former champions Williams but sold that after he joined the Mercedes team, where he serves as principal and owns 30%. Canadian billionaire Stroll, whose son Lance drives for Racing Point alongside Mexican Sergio Perez, is close to Wolff. The Silverstone-based team — to be renamed Aston Martin next year — use Mercedes engines and gearboxes. Mercedes-Benz's parent Daimler also has a small stake in Aston Martin. "It's clear that Aston are now Mercedes' B team," the Daily Mail quoted one Formula One insider as saying. Wolff's future at Mercedes has been the subject of some media speculation, with the 48-year-old linked variously to senior management roles with Liberty Media-owned Formula One and at Aston Martin. His Aston Martin shares were bought from Yew Tree Overseas Limited, a vehicle controlled by Stroll who acquired a roughly 25% percent holding in Aston Martin with a consortium of investors. Mercedes have won the past six Formula One drivers' and constructors' titles but have six times world champion Lewis Hamilton out of contract at the end of the 2020 season, which has yet to start due to the COVID-19 pandemic. Hamilton, who has also been linked to Ferrari, had told reporters before the global crisis changed the sporting and financial landscape that his decision would depend on Wolff's plans. The Briton is now expected to stay at Mercedes, with a radical overhaul of Formula One's sporting and technical regulations postponed to 2022. Related Video: Motorsports Aston Martin Mercedes-Benz