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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 GT8 is lightest and most powerful V8 Vantage ever

Aston Martin has revealed the upcoming GT8 variant, a race-inspired limited edition much like the earlier GT12. Only 150 will be built – 50 more than the 12-cylinder sibling. And like the GT12, none of those will be coming to North America, either. The car has already been offered to select customers, with a sketch depicting the car but without finalized photos, as the manufacturer wanted to keep the car under wraps until the unveiling. As the GT12 uses the six-liter V12 engine, the GT8 is based on the Vantage V8 and uses a 4.7-liter powerplant with 446 horsepower, a slight hike from the regular car's output. The bodywork has been made out of carbon fiber, granting it the title of being the lightest and most powerful V8 Vantage built. According to Aston Martin, all the bodywork is race-bred and not just there for show. Aston's Director of Special Projects and Motorsport, David King says that Aston Martin has "long desired to create a road car that truly reflects our racing activity at Le Mans", and that the GT8 achieves that. View 13 Photos Regarding the choice of transmission, the GT8 follows in the footsteps of the GT12 – either a six-speed manual or the seven-speed Sportshift II paddle-shift, whichever seems to suit the buyer of the motorsport-themed car. The buyer can also decide on optional weight saving measures, as the roof is also available in carbon fiber and the side and rear windows in polycarbonate. Still, there are A/C and audio systems to make the limited edition car a little more bearable than its racing counterparts. There are three optional "Halo" paint schemes to choose from, combining China Grey with blue, Stratus White with green and Stirling Green with lime detailing, the last of which is seen in these press images. Prices start from GBP165,000 ($233,880) and deliveries commence in late 2016. Related Video: News Source: Aston MartinImage Credit: Aston Martin Aston Martin Coupe Racing Vehicles Special and Limited Editions Supercars Videos vantage v8

Spectre shreds $37 million in cars

Much as you can't make an omelet without breaking a few eggs, you apparently can't film a James Bond movie without trashing a few cars. And by "a few cars," we actually mean $37 million worth. That's how much the producers of the all-new 007 flick, Spectre, trashed in the process of filming. And yes, that's a record. "We set the record for smashing up cars on Spectre," stunt coordinator Gary Powell told The Daily Mail (with what we can only imagine was a very boastful grin). "In Rome, we wrecked millions of pounds worth. They were going into the Vatican at top speeds of 110 [miles per hour]. We shot one entire night for four seconds of film." But because this was Bond, producers didn't just destroy $37 million worth of budget hatchbacks. Instead, seven out of ten specially produced Aston Martin DB10s were sacrificed in the name of cinema, including a major crash sequence featuring Rome's Colosseum, River Tiber, and the Vatican. American filmgoers will be waiting until November 6 to see if the destruction of all those Aston Martins was worthwhile. Somehow, we don't think anyone is going to be disappointed. Related Video: News Source: Daily Mail via Vanity FairImage Credit: Angelo Carconi / AP TV/Movies Aston Martin Coupe Luxury Performance spectre aston martin db10