2024 Aston Martin Dbx 707 on 2040-cars

Auto blog

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's upcoming hypercar officially named Valkyrie

For all of the awesome design and impressive promised performance of the upcoming hypercar from Aston Martin and Red Bull, it has had until now a terrible name. AM-RB 001 never really rolled off the tongue, nor did it evoke power and beauty like past Aston Martin names, such as Vanquish. But Aston has fixed that with the car's new name, Valkyrie. It's a solid name, one that comes from Norse mythology. Not only that, but it continues Aston's use of names starting with "V" (Vantage, Virage, Vulcan, et al). It's also way easier to say than the serial number that was the old name. We're looking forward to getting the full official specs, too. So far, we know it will have a V12, and the company is aiming for a one horsepower to one kilogram power-to-weight ratio, similar to that of the Koenigsegg One:1. We've also heard that Aston will sell just 175 cars, with each running about $3 million. Related Video:

Aston Martin hoons its DB10 for 007

It always goes back to Skyfall, doesn't it? On November 6, 2015, we will join James Bond again as he hunts for another piece of his past, one that has grown into a dark, evil creeper known as Spectre. Since Aston Martin is now nearly just as synonymous with Bond as the agent's nemesis Blofeld, it's certain that the carmaker will have just as much fun as we do during the buildup. Or more fun, perhaps, judging by this spot. The rather handsome DB10 is put to work sending the world a message for the spy we love the most, and blows a lot of smoke in the effort. You can watch that in the video above. Speaking of smoke, if you haven't got enough of the pre-release action yet there's another video below with director Sam Mendes and his special effects minions showing what went into creating the practical effects on three continents, like flying a helicopter down a Mexico street. Enjoy both.