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Aston Martin sues dealer over $3.5 million Valkyrie supercar

Aston Martin Lagonda Global Holdings said it’s suing a company affiliated with one of its dealers in Switzerland, alleging that it withheld customer deposits collected for the $3.5 million Valkyrie supercar. The automaker accused Nebula Project AG of failing to pass some deposits taken from customers along to Aston Martin and said it has terminated an unconventional commercial arrangement its previous management team entered in 2016. Under the now-dissolved deal, Nebula had agreed to fund development of the Valkyrie and other mid-engine cars in exchange for royalty payments. As a result of terminating the agreement with Nebula, Aston Martin is no longer liable for any potential royalty payments, which could have been “significant” over time, the carmaker said in a statement Tuesday. The company also cut off its dealer arrangements with AF Cars AG, the company that operates Aston Martin St. Gallen in Switzerland, whose board members manage Nebula. A spokeswoman for the cantonal prosecutorÂ’s office in St. Gallen said they are expecting a lawsuit to be filed but hadnÂ’t received it as of noon Tuesday. A spokesman for Aston Martin St. Gallen was not immediately available to comment, according to a receptionist. The canton of St. Gallen in eastern Switzerland is home to just 510,000 people but generates gross domestic product of almost 39 billion Swiss francs ($42 billion), making it a natural fit for wealthy fans of supercars. The Valkyrie, which Aston Martin expects to start shipping in the second half of the year, is intended to compete with mid-engine models made by the likes of Ferrari and McLaren. While Aston Martin believes the net impact of its actions against Nebula will be positive over time, itÂ’s expected to reduce cash flow and earnings before interest, taxes, depreciation and amortization by as much as 15 million pounds this year. The automakerÂ’s shares traded down 1.9% as of 11:50 a.m. in London, paring an earlier decline of as much as 4.9%. Valkyrie customers will still receive their cars as scheduled, Aston Martin said, despite the company not having received all the deposited funds. The company said it will take deposits for special vehicles directly from customers going forward instead of through dealers. Aston Martin racked up significant losses after going public in 2018 and has spent the last year restructuring itself after a rescue by Canadian billionaire Lawrence Stroll, who took over as chairman.

UK offers Aston Martin military base to produce DBX in Wales

The British government is doing its best to encourage Aston Martin to build the DBX in the United Kingdom. To that end, Prime Minister David Cameron made a public offer to the automaker Thursday to make use of a military facility in Wales to produce the crossover. The location is St Athan, a Royal Air Force base and Ministry of Defence facility with space left vacant since a planned military academy earmarked for the site was canceled less than five years ago. One of its empty hangars is what Cameron offered to Aston Martin, according to the BBC. The facility is located near the airport in the Welsh capital of Cardiff, a little over two hours from the company's headquarters and principal manufacturing site in Gaydon. If Aston takes the bait, the site would be used to manufacture the DBX that would become the company's first crossover. Rivals Jaguar, Bentley, Maserati, and Lamborghini are all planning to launch their first crossovers, as well. Aston showcased a concept version of the DBX at the Geneva Motor Show this March, but the production version is expected to go a bit more mainstream, ditching the electric powertrain and two-door layout in favor of more conventional propulsion and four-door setup. The company is also said to be considering opening a new facility in the United States, specifically in Alabama near the Mercedes plant there, to handle production of the DBX. Other locations within the UK are also said to be under consideration, but Aston has yet to make a decision – or at least an announcement – on where the crossover might be assembled. When Aston previously branched out with the launch of the Rapide, it contracted Magna Steyr to handle assembly on its behalf in Austria, before moving production back home. The contract manufacturing facility is the same to which the Jaguar Land Rover is expected to entrust assembly of the F-Pace crossover. It's also where the G-Class is built for Mercedes, which in turn similarly hired AM General recently to assume production of the R-Class crossover. Related Video:

Aston Martin Vantage and DBS Superleggera 007 Editions are shaken and stirred

We're 25 movies into the James Bond franchise at this point and it's well established that 007 has developed an unhealthy taste for Aston Martins. To wit, the upcoming film "No Time To Die", says the British motoring company, "will be released around the world in November 2020 and will feature no fewer than four iconic Aston Martin sports cars: the iconic DB5; the classic Aston Martin V8; the brand’s latest super GT,  DBS Superleggera; and the exceptional Aston Martin Valhalla." To herald the occasion, Aston Martin has rolled out two new 007 Editions. We'll start with the Vantage 007 Edition, which is inspired by the Aston Martin V8 from 1987's "The Living Daylights." Cumberland Grey paint joins a unique mesh grille with chrome bezel, a dashed yellow diffuser that the automaker says is "inspired by the hazard stripes on the film carÂ’s rockets" and sun visors with an embroidered radio station frequency of 96.60 FM, which will make sense to diehard Bond fans. A series of optional mock weapons, ski racks, and faux bullet holes round out the package. Aston Martin's flagship DBS Superleggera also gets a 007 Edition. Only 25 will be produced, each in Ceramic Grey highlighted by a black carbon fiber roof, mirror caps, splitter, diffuser and rear Aeroblade. Bond-specific emblems join unique 21-inch wheels and an interior finished in black leather with red accents. Want one? Aston Martin is currently taking orders, with deliveries expected in the first quarter of 2021. Related Video: