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Geely in talks to take a stake in Aston Martin

China’s Geely Automobile Holding held talks with Aston Martin management and investors as it considers investing into the British luxury carmaker, the Financial Times reported on Friday. Geely is conducting due diligence as it looks at taking a stake in the 107-year-old UK firm, which warned earlier this week its 2019 profits would by cut nearly in half due to weak European markets. Another report out today said that Aston had canceled its RapidE electric car because of its financial situation. Geely owns controlling stake in another British car company, Lotus, and also the London EV Company, which makes London cabs. It also owns Volvo and a nearly 10% stake in Daimler. Aston Martin was not immediately available for comment. Geely did not immediately respond to a request for comment.  Related Video:     Earnings/Financials Green Aston Martin Geely

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 V12 Speedster will ditch roof and windshield

If your hunger for supercars with no windshields wasn't satiated with the McLaren Elva, we have good news. Aston Martin has one of its own to be revealed later this year. It's simply called the Aston Martin V12 Speedster, and sounds like it will be entertaining. Though the car hasn't been fully revealed, the teaser image gives us a good look at the profile. The nose is pointy with a huge grille like the Aston Martin Vantage. The short deck with tall rear spoiler is also Vantage-esque. Between the wheels appear to be some very aggressive air vents and character lines. And of course, there's no roof or windshield. There are cowls behind the seats, which are fitting since Aston says this car is inspired by the Le Mans-winning 1959 DBR1 race car and the 2013 Aston Martin CC100 concept car, both open sports cars. Powering the V12 Speedster is, obviously, a V12 engine. It's a version of the twin-turbocharged 5.2-liter that's been used in different versions of the DB11. In the Speedster it will produce 690 horsepower and 516 pound-feet of torque, which is less than the 715 horsepower and 664 pound-feet of torque in the monster DBS Superleggera. The engine is matched to an eight-speed ZF automatic transmission and rear-wheel drive. Only 88 V12 Speedsters will be built, and Aston is taking orders now. Completed cars will be delivered in early 2021. Pricing hasn't been announced, but we doubt that will be an issue for those ordering one. Related Video:    

Aston Martin stock price shaken and stirred by latest weak outlook

Aston Martin warned its 2019 profits would almost be cut in half due to weak European markets, sending its shares sharply lower as rivals Bentley and Rolls-Royce powered ahead. Tuesday's downgrade is the latest from the British luxury carmaker, whose shares have now plunged about three quarters in value since their 2018 listing. The 107-year-old firm, famed for being fictional agent James Bond's brand of choice, cut its forecast for wholesale volumes and profit margins in July, and reduced its volume forecast again in November. It has blamed weak UK and European markets and subdued demand for its Vantage model and said on Tuesday those conditions continued through December, leading to a 7% drop in wholesale volumes for 2019. "From a trading perspective, 2019 has been a very disappointing year," Chief Executive Officer Andy Palmer said, as the company's shares plunged as much as 16%. While Aston spent 2019 ploughing money into a new factory to build its first SUV, the highly lucrative market a number of carmakers have entered, rivals such as BMW-owned Rolls-Royce and Volkswagen-owned Bentley appear one step ahead. Bentley on Tuesday said its Bentayga SUV boosted the brand's performance in 2019 as it returned to profitability, while Rolls-Royce's Cullinan helped drive a 25% increase in sales to an all-time high of 5,152 vehicles. "Cullinan has proven to be an outstanding hot seller for the brand," Chief Executive Torsten Mueller-Oetvoes told Reuters. "We are sitting now on an order bank reaching even far into 2020." Aston hopes its first SUV, the DBX, will emulate this success and revive its fortunes next year. About 1,800 orders have been booked since its launch in November, the company said. "The order rate is materially better than any other car that we have ever launched before," Palmer told Reuters. For 2019, Aston expects adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of 130-140 million pounds ($171 million to $184 million). The company reported 247.3 million pounds in core profit a year earlier, while analysts' average forecast was 196 million pounds for 2019, according to a company-compiled consensus. Aston said it was also in talks with investors for a potential equity investment and would draw down $100 million in bond notes. Its shares, which have lost nearly 3 billion pounds in market value since their listing, were down 11.1% to 464.8 pence at 1136 GMT.  

Aston Martin and Airbus reveal ACH130 AM helicopter collaboration

The Aston Martin DBX is one of the brand's several recent forays into novel territory. In November, the carmaker unveiled a motorcycle co-created with Brough Superior, the AMB 001. A month later, the brand teased a liaison with Airbus Corporate Helicopters with the ACH130 model at its heart. Here we have the result after 12 months of planning, the ACH130 Aston Martin Edition. The exterior lines of the six- or seven-seat chopper most often used for "sightseeing services, charter operators, and emergency medical services" are unchanged. Aston Martin's creative hand came in composing four exterior color combinations and an interior embellished with the carmaker's hallmarks. The pictured ACH130 AM wears livery in Stirling Green that fades into Jet Black underneath, accented with Skyfall Silver cowlings. The remaining three choices use Xenon Grey, Arizona, or Ultramarine Black as their primary colors. Seats profiled to recall Aston Martin road cars can be dressed in hides of colored Oxford Tan, Pure Black, Cormorant, or Ivory. Brogue detailing decorates the strip of Pure Black ultra-suede running down the center of the front seatbacks, stopping at hand-crafted leather satchels affixed to the lower portions. The rest of the interior is trimmed in matching leather and Pure Black ultra-suede, with embossed Aston Martin wings "tastefully positioned throughout the cabin," and a plaque inscribed with the edition number of the particular ACH130 AM. The bird can be ordered as of now, with deliveries to begin this quarter. Aston Martin and Airbus didn't release the price, but a standard ACH130 costs $3.3 million before frills. That makes the ACH130 AM the most wallet-friendly offering among Airbus' carmaker collaborations; the Mercedes-Benz ACH145 costs about $8.5 million, the ACH160 developed with Peugeot's design consultancy requires roughly $18 million. Related Video:

Aston Martin and Gentex show off tri-camera rearview mirror system for CES

More screens and cameras are headed for Aston Martin vehicles this decade, as Gentex and Aston have just jointly revealed a new tri-camera rearview mirror system. The tech will be on display next week in a 2020 Aston Martin DBS Superleggera at the 2020 Consumer Electronics Show. This tri-camera mirror system is similar to other camera mirror systems on the market today, but there’s a twist. Instead of the whole rearview mirror being one big screen, there are two smaller screens flanking the center display. These two additional screens display a feed from cameras on the carÂ’s two side mirrors. Camera side view mirrors already exist in some cars like the Audi E-Tron and Lexus ES in other markets, but the integration is different. Instead of replacing the side mirrors with tiny camera modules, Aston Martin is keeping the mirrors and simply adding a single camera to each one. Also, instead of displaying the side camera feeds near the A-pillars, itÂ’s routed into the small screens in the mirror itself. Gentex calls it the CMS (camera monitoring system), and while Aston Martin doesnÂ’t specify which models will get it, weÂ’re told to expect it on “future Aston Martin vehicles.” One of the aspects of this system Gentex stresses is that itÂ’s weather foolproof. Even if salt, snow or rain clouds/blocks one of the cameras, the traditional mirrors are still there to be used as a backup. Vehicles that use camera mirrors exclusively are engineered to make sure the view isnÂ’t inhibited, but Gentex doesnÂ’t want to take any chances with this system. The rearview mirror can function like a normal auto-dimming mirror, too, even though that camera is unlikely to become blocked from its placement just above the rear window. The biggest advantage we see in this setup is that one glance upward can give you a full idea of whatÂ’s going on behind and beside you. ItÂ’ll require some time in the driverÂ’s seat to decide if itÂ’s too much information and too many screens in one spot. WeÂ’ll reserve final judgement when it reaches that point. Since relying solely on camera mirrors is still not allowed in the U.S., this hybrid system might be the best way to take advantage of the tech. ThereÂ’s no timeline on production readiness, but anyone in Las Vegas going to CES can see it in action.

Airbus and Aston Martin tease helicopter collaboration

Aston Martin is working on a new partnership in a different part of the transportation sector. This week, the British company known for its beautiful car designs announced a collaboration with Airbus Corporate Helicopters (ACH) that is set to launch in 2020.  ACH and Aston Martin are working on a helicopter, and this short video is the first official teaser of the partnership. The project has been under design development for the past 12 months, and Aston Martin Lagonda Vice President and Chief Creative Officer Marek Reichman said the project will be a blending of automotive and aeronautical design principles.  Although the teaser did not give away much info about the helicopter, the name of the video might. It's titled, "ACH130 AM TEASER 16x9." The 16x9 part is just the dimensions of the video, but ACH130 AM likely indicates a nod to the Airbus H130 helicopter, which is most often used for "sightseeing services, charter operators, and emergency medical services, among others." It comes in six- or seven-passenger configurations.  This is not the first time Airbus has collaborated with an automaker on a helicopter design. Peugeot previously worked with Airbus on an H160. The ACH130 AM debuts in the French Alps on January 3, 2020. And this is not the first time Aston has collaborated on transportation beyond a car. Last year, Aston put its luxury imprint on a submarine. Auto News Design/Style Aston Martin

Aston Martin not actively pursuing new investors as opens SUV plant

ST ATHAN, Wales — Aston Martin, which was reported this week to be the target of Canadian billionaire Lawrence Stroll, said it was not actively pursuing new investors on Friday as it opened a new factory to build its first sport utility vehicle. As some in the global car industry turn to partnerships, alliances or mergers to handle the challenge of electrification, new technology and tighter margins, Autocar magazine reported on Thursday that Stroll, the owner of Formula One team Racing Point, is preparing to buy a major stake in Aston. "You know what we would have to do if there was an official approach. Beyond that, I can't comment," Aston's chief executive Andy Palmer told Reuters at the factory opening, referring to rules governing publicly-listed companies. "We're certainly not actively soliciting any other participation. That's not to say it doesn't come," he said when asked whether Aston needed a new investor. The British automaker's new factory in south Wales holds the key to ending a poor performance this year from Aston, whose shares have tumbled 75% this year on weaker-than-expected sales. In August, Aston's biggest investor, Strategic European Investment Group, bought an extra 3% stake in the 106-year-old company, whose second largest shareholder is a Kuwaiti investor. Last month Aston, which floated in October 2018, launched its DBX model, hoping that more female buyers will help boost sales after posting a pre-tax loss of 92.3 million pounds ($118 million) for the first nine months. It hopes its new factory, in St Athan, near Cardiff, will help turn around its fortunes. The plant is its second alongside its historic one in Gaydon, central England. As the autos sector consolidates through deals such as the merge of Peugeot and Fiat, Aston has said it does not need to belong to a bigger automotive group, pointing to the success of stand-alone rival Ferrari. Palmer said the small stake held by Germany's Daimler allows Aston to have access to technology and benefit from the speed at which it can operate independently. "There is a perfectly rational route to success in our current state," he said. Reporting by Costas Pitas.

Aston Martin opens new factory to build key first SUV

ST ATHAN, Wales — Aston Martin opened a new factory in Wales on Friday to build the British automaker's first sport utility vehicle, key to its hopes of a turnaround after a poor performance this year sent shares tumbling. Aston launched its DBX model last month, hoping that more female buyers will help boost sales after a year in which it has so far posted a pre-tax loss due to weaker-than-expected demand for its sports cars, particularly in Europe. "The opening ... is a hugely important milestone in the companyÂ’s growth plan and integral to our ambitions as a global luxury brand with a presence in all major sectors of the market," said Chief Executive Andy Palmer. The St Athan site near Cardiff in south Wales is the 106-year-old firm's second car plant after its existing site in Gaydon, central England. Aston has seen its share price fall by around 75% since a stock market flotation in October 2018 as the global automotive industry faces the challenge of falling demand in several important markets and the need to spend more electrification. On Thursday, Autocar magazine reported that Canadian billionaire Lawrence Stroll, owner of Formula One team Racing Point, is preparing a bid for a major stake in Aston Martin, prompting its shares to rally. Aston declined to comment on the report.   Featured Gallery 2021 Aston Martin DBX: L.A. 2019 View 40 Photos Plants/Manufacturing Aston Martin SUV

Billionaire Lawrence Stroll reportedly seeks major stake in Aston Martin

LONDON — Canadian billionaire Lawrence Stroll, owner of Formula One team Racing Point, is preparing a bid for a major stake in Aston Martin, Autocar magazine reported, sending the carmaker's battered share price up nearly 15% on Thursday. The British sports car maker's share price has slumped since its initial public offering in October last year. The shares launched at 19 pounds ($24.50) before dropping for months and languishing at around 5 pounds for weeks as sales have failed to meet expectations. Its major shareholder is Strategic European Investment Group from Italy, which holds about a third of the company. Stroll is the father of Formula One driver Lance Stroll, and is also famed for his car collection, regarded as one of the best collections of Ferraris in the world. Stroll is heading up a consortium looking to take a "major shareholding" in Aston Martin, Autocar said on Thursday. Two weeks ago, Aston unveiled the DBX, its first SUV, and is pinning its hopes on the model's success. Aston Martin declined to comment. Racing Point did not immediately respond to an emailed request for comment. The carmaker's shares were up nearly 15% at 5.79 pounds Thursday.