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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 and Lotus each issue recalls

A pair of head-turning high performance cars are catching some attention off a different kind, in the form of safety recalls. Aston Martin and Lotus have issued recalls for the V12 Vantage Coupe and Evora, respectively.
Aston Martin's affects 169 examples of the 2009-2012 V12 Vantage Coupe. It concerns the tire-pressure monitoring system, and is less a malfunction than it is a compliance issue. The TPMS does not alert the driver until the front tire is more than 25 percent below the recommended cold tire pressure. Federal Motor Vehicle Safety Standard No. 138 states that the alarm must sound when tire pressure is "equal to or less than either the pressure 25 percent below" the recommended cold inflation pressure. To address the issue, Aston Martin will notify owners and reprogram the software, free of charge.
As for Lotus, 80 supercharged Evoras have been recalled, all built between February and September, 2011. The problem involves an engine-mounted oil feed pipe, which could rupture, causing loss of engine oil or a possible fire if the oil sprays onto a hot engine.

Aston Martin DBS, Superleggera names resurrected for a new ‘Super GT’

Aston Martin has announced it's bringing back the time-honored DBS name. Originally used in the 1967-1972 GT car, the name was briefly resurrected for a DB9-related model made from 2008 to 2012, and then put back on the shelf. The new car, which Aston refers to a "flagship Super GT," will be introduced in June, as mentioned in a teaser video that somehow reminds us of the xenomorph creature in the "Alien" sci-fi movies. But it's not going to be a big, heavy bruiser, as Aston is also adorning it with a Superleggera badge, referring to super-lightweight construction and dating back to the classic Carrozzeria Touring days of the DB4, DB5 and DB6. Sources such as Autocar say the new, Vanquish-replacing model would have the turbocharged 5.2-liter V12 from the DB11, but tuned for considerably higher output than the DB11's 600 horsepower — perhaps 700 hp is in order. Official power figures have not yet been released, but June isn't that far away. Announcing the re-birth of an iconic name. A distinctive moniker, set to be proudly worn once again by Aston Martin's flagship Super GT. DBS Superleggera.https://t.co/W7Z6SuJFbW pic.twitter.com/1e4ePW84sl — Aston Martin (@astonmartin) April 17, 2018 Related Video: Aston Martin Luxury Performance dbs