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Sebastian Vettel signs with Racing Point for the 2021 F1 season

LONDON — Four-time Formula One champion Sebastian Vettel will drive for Racing Point starting next season. The team, which will be renamed Aston Martin, announced the move Thursday, a day after driver Sergio Perez said he was on his way out. The team said Vettel has signed for the 2021 season “and beyond" but did not reveal the length of the contract. “The signing of Sebastian is a clear statement of the teamÂ’s ambition to establish itself as one of the most competitive names in the sport," the team said in a statement. “As a four-time world champion, Sebastian brings a fresh mindset to the team." One of the most successful drivers in F1, Vettel is leaving Ferrari at the end of this season after he was not offered a new contract. He will be replaced by McLaren driver Carlos Sainz at Ferrari next year. Vettel has won 53 grand prix races, a tally only surpassed by Michael Schumacher and Lewis Hamilton. He won four consecutive titles with Red Bull from 2010-13 and joined Ferrari in 2015 with the aim to win another. But he never had a car really capable of challenging Mercedes during his stint with the Scuderia, where he lost his No. 1 status as teammate Charles Leclerc came to prominence. “ItÂ’s a new adventure for me with a truly legendary car company," Vettel said. “I have been impressed with the results the team has achieved this year, and I believe the future looks even brighter. I still have so much love for Formula One and my only motivation is to race at the front of the grid." Currently fourth in the constructors' standings, Racing Point was handed a 400,000 euro ($470,000) fine and docked 15 points last month for copying a Mercedes design for its brake ducts. The team, however, was allowed to continue to use the offending components this season. Racing PointÂ’s other driver is Lance Stroll, the son of co-owner Lawrence Stroll. Motorsports Aston Martin Ferrari F1 Sebastian Vettel

Aston Martin sold its old Vanquish tooling, but to whom?

Where do car models go when they become old? In some cases, they go to developing markets to be reborn again: Nissan built the Sentra in Mexico for ages, and old Peugeot saloons have been made in Iran for decades. Sometimes a separate company buys the tooling, which has been the case for Saab, for instance: the 9-3 and 9-5 sedans found a new life in China, albeit with new sheetmetal. These scenarios usually play out with passenger cars and trucks, and more rarely with sports cars. But for the Aston Martin Vanquish, there might be plans afoot. Aston Martin was revealed to have sold the second-generation Vanquish tooling and design drawings in June, for around $26 million. Aston didn't disclose the name of the buyer, so speculation quickly rose. Who wants to start building the V12 range-topper originally launched in 2012? Automotive News suggests the buyer could be a boutique European tuner such as Mansory, who would expand from converting cars into having bespoke products of its own. Jalopnik mentions Zagato, who has already partnered with Aston Martin and helped create the exclusive Zagato Vanquish. Whoever the buyer turns out to be, they will get 18 months of assistance from Aston Martin Consulting, as dictated in the deal. An interesting development would be if the Vanquish would be recreated as an electric supercar, if the anonymous buyer chooses not to fit their creations with Aston's V12 engines. Still, Aston won't be the first British sportscar maker to sell its tooling to another company: surely everybody remembers the time the front-wheel-drive Lotus Elan reappeared in Korea, as the Kia Elan/Vigato? Related Video:

Andy Palmer leaves Renault-Nissan to serve as CEO of Aston Martin

Aston Martin has been without a helmsman since Ulrich Bez stepped down from the chief executive office at the end of last year, stepping back to serve as non-executive chairman in a semi-retired ambassadorial capacity. The British automaker, now on the cusp of a new era, has been running without a CEO since, but has now named Bez's replacement in Andy Palmer.
If you don't recognize the name, you should: Palmer has worked under the Renault-Nissan Alliance for decades now, rising through the ranks to become one of the top executives under Carlos Ghosn. Most recently he was serving as executive vice president of the entire group and chairman of the Infiniti brand, but like Carlos Tavares, who recently left Renault to run Peugeot, Palmer is now embarking on a new mission as CEO of Aston Martin.
Once the transition period is complete at the start of October, Palmer's role as Chief Planning Officer at Renault-Nissan will be assumed by Philippe Klein, who steps up from his current role as executive vice president of product planning for Renault. Read the statements from both companies below.