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Aston Martin may soon follow Ferrari with a London IPO

Aston Martin may soon be following Ferrari's lead, as Automotive News reports that people within the British automaker say it may soon consider an initial public offering. If it happens Aston Martin will likely list in London, not New York like Ferrari. While some in the industry were initially wary of Ferrari's move, the company is doing better than ever, with shares rising 62 percent since its IPO in 2015. An IPO could be a huge plus for Aston Martin. The company is looking to boost both sales and profit. Ferrari and Aston Martin sell similar vehicles at similar price points, but Ferrari has a much wider audience, even if most of those fans will never even sit inside one of its cars. That would likely be a big sticking point in estimating Aston Martin's value. It also moves half as many units as Ferrari per year. Aston Martin does have a new crossover on the horizon. Like Porsche, a crossover has the potential to more than double the automaker's sales. Even without it, fourth quarter profits in 2016 notably increased, fueled by solid sales of the new DB11. The IPO won't happen until sometime next year. The company wants to wait on a full 2017 earnings report. Related Video: News Source: Aston Martin Earnings/Financials Rumormill Aston Martin Ferrari stock

Aston Martin reportedly cancels electric RapidE amid money troubles

Aston Martin's first production-bound electric car won't be based on the Rapide after all, according to a recent report. The British firm allegedly canceled the RapidE project after several costly delays. British magazine Autocar learned from a source close to Aston Martin that it has consigned the sedan to the automotive attic to focus on ramping up production of the DBX, its first SUV. It's a hugely important model that will make or break the company's 2020 balance sheet. Other seemingly random projects like the ACH130 helicopter co-developed with Airbus are much less distracting because there's little substance to them; it's essentially just a nice interior and an eye-catching paint job. The RapidE, however, was a new car under a familiar body. Presented as "a truly historic step" that would pelt Aston into the world of electrification, it snubbed the Rapide's 6.0-liter V12 and instead offered drivers an electric powertrain with 610 horsepower and a 65-kilowatt-hour lithium-ion battery pack. The firm quoted a 200-mile driving range, which is on par with the Porsche Taycan's EPA rating, and a 4-second sprint to 60 mph, which is about as quick as a gasoline-burning Rapide. Development work began in 2015 with the help of LeEco, a Chinese tech giant-turned-electric car manufacturer founded by Jia Yueting, the man behind Faraday Future. Aston Martin chose to finish funding the project on its own after money trouble forced LeEco out. Williams Advanced Engineering provided its expertise, but Aston Martin had to foot the bill on its own, so the RapidE went from a low-volume model to a limited-edition sedan. Aston Martin planned to make 155 examples of the RapidE in a new facility located in St. Athan, Wales. Each one carried a price tag reading "on application," which is automaker-speak for "really expensive," and one was spoken for by James Bond. We reached out to the company to verify Autocar's report, but were told they couldn't comment on future product speculation. There's no word yet on what this means for the other electric cars Aston has in the pipeline, including two luxury sedans previewed by concepts and intended to revive the dormant Lagonda name in the early 2020s. Featured Gallery Aston Martin Rapide E:Auto Shanghai 2019 View 11 Photos Green Aston Martin Electric Sedan

Aston Martin to turn an air force base into a factory to build DBX crossover

To build its upcoming DBX luxury SUV, Aston Martin needs a new factory. A year ago, the British manufacturer announced having chosen the site of St. Athan in South Wales, and the former Royal Air Force base has now been officially handed over to Aston Martin. It's a part of a growth plan outlined by the carmaker, and the site was chosen from 20 potential ones all over the world, to accompany the existing manufacturing facility in Gaydon, Warwickshire. The two factories will create 1,000 new jobs by 2020, and Aston Martin will boost employment in Wales with a further 3,000 jobs across its supply chain and local businesses related to car manufacturing. The three hangars of the location will be converted into a car factory by 2019. The former military site was formally handed over from the British Ministry of Defence to Aston Martin by Secretary of State Sir Michael Fallon at a ceremony today, including Aston Martin President and CEO Dr. Andy Palmer, and Secretary of State for Wales, Alun Cairns and Welsh First Minister, Carwyn Jones. It's been a special day in Wales as conversion of #AstonMartinStAthan starts ahead of DBX production in 2019: https://t.co/9e6nqQiob4 pic.twitter.com/K6v3D3TPJd — Aston Martin (@astonmartin) April 6, 2017 "Due to its sheer size and scale, the St Athan Super Hangars represented an excellent opportunity for us to build our second manufacturing facility, within the envelope of an existing structure. It is perhaps fitting that St Athan is, like our headquarters and sports car factory at Gaydon, a former Royal Air Force base", says Andy Palmer. Related Video: