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Aston Martin CEO Andy Palmer to leave in favor of AMG chief Tobias Moers

Aston Martin Chief Executive Andy Palmer is leaving the business as part of a management shake-up and will be replaced by Tobias Moers, CEO of Mercedes-AMG, a source familiar with the matter told Reuters on Sunday. The luxury carmaker said in an emailed statement that it is reviewing its management team but declined to comment on Palmer's fate. Palmer and Germany's Daimler, which owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines, also declined to comment. The Financial Times newspaper had reported earlier that the Aston Martin chief was going to leave as part of a shake-up of its leadership, with an official announcement expected on Tuesday. Palmer had not been informed of the upcoming announcement, the newspaper reported. Aston Martin, famed for being fictional secret agent James Bond's car of choice, has seen its share price plummet since floating in October 2018. The 107-year old British luxury carmaker earlier this month posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. The company has been banking on its sport utility vehicle to drive sales in a new segment, and said production was on track. In January, dire conditions forced the company to bring in Canadian billionaire Lawrence Stroll who bought a roughly 20% stake for nearly 200 million pounds ($263 million), as the ailing carmaker sought to raise funds. The coronavirus pandemic and shutdowns caused by it have hit demand and forced factories around the world to suspend production, negatively impacting many industries, including car manufacturers. "We were obviously fairly significantly hit by COVID-19, starting with China in January but more clearly in what we saw as it came across towards Europe and the United States," Palmer told Reuters earlier in May. Related Video:

Frankfurt Motor Show Notes: Why Jaguar decided to build an SUV

It was inevitable. Jaguar had to make an SUV, and that notion became reality this week with the debut of the F-Pace, an all-wheel-drive five-seater that will launch in the United States next spring. Some purists may cringe. But in an era when Porsche, Bentley, Lamborghini, Rolls-Royce, Aston Martin, and other traditional luxury brands are all building or (planning to build) SUVs, Jaguar had to evolve. While it seems like a leap for Jaguar to make an SUV, longtime design director Ian Callum said it's been in the works for years. "The first time I was asked the question was when I arrived 16 years ago," he said. So in 1999 (and probably well before that), Jaguar was already thinking SUV. What took so long? "It wasn't a priority," Callum said. Jaguar was concentrating on fixing its existing lineup, which was pockmarked with holes and poorly selling products, like the X-Type. Along the way, Jaguar and sister brand Land Rover were sold by Ford to Indian conglomerate Tata Motors. Flash forward several years, and Jaguar and Land Rover are both experiencing a resurgence in the United States and around the world. Jaguar's lineup is flush with the E-Type's modern successor, the F-Type, plus a new version of the XF. The XJ received a 2016 freshening, and the smaller XE sedan is on the way. Jaguar put its house in order as other factors conspired to make a crossover timely. Fuel prices stayed relatively low, and consumers in the US and China remained steadfast in their love for utility vehicles of all stripes. Making a Jaguar SUV became a priority. "The world was telling us in no uncertain terms this is what they wanted," Callum said. "Not to be in the sector would be a little naive for the sake of purity." Jaguar proved its intent two years ago when it revealed the C-X17 crossover concept at Frankfurt, and the final production model is close to the prototype's striking looks. "I thought we managed to maintain that spirit," Callum said. It's a true Jaguar, with cues from the F-Type, 1968 XJ, and other famous models. Who would have thought Jaguar would make an SUV? "I certainly didn't," Callum admitted. But the F-Pace is here. If Callum is okay with it, purists can be, too. Quick Hits Opel retrenches for 2016 and beyond Opel used the Frankfurt show to display its new generation of the Astra, a critical vehicle line for the German division of General Motors.

Recharge Wrap-up: Porsche 911 hybrid possible, Ecocruise EVs coming soon

The next-generation Porsche 911 could use hybrid power, according to Porsche CEO Matthias Muller. "There is no reason against it and we will see if we have some reasons to do it," Muller says of the model due around 2018. He also suggests that hybrid technology could eventually make its way into all Porsche model lines, but that the Boxster and Cayman would first get four-cylinder versions. Muller cites carbon emissions and "sportiness" as reasons to use hybrid power, pointing to the 918 Spyder as a good example of both. Read more at Car Advice. A B-Class F-Cell from the Mercedes-Benz fleet has hit a benchmark of 300,000 kilometers (about 186,411 miles) in everyday use. The achievement won Daimler an "f-cell award" for hydrogen fuel cell technology and innovation. The 300+ fuel cell cars in the Daimler fleet have driven a collective 9 million-plus kilometers (more than 5.5 million miles). The information gathered from this testing is being used to improve development as the company looks toward expanding commercialization of fuel cell cars. "We have clearly demonstrated that the fuel cell electric drive is ready for the road," says Professor Herbert Kohler of Daimler. "The last hurdles we will overcome in intensive cross-industry and cross-border teamwork." Read more in the press release below. A company called Ecocruise has new EVs coming out soon. Along with electric scooters and service vehicles, Ecocruise develops street-legal neighborhood electric vehicles like the three-wheeled EZip-3, the four-wheeled EZip-4, and the fun looking Cruser Sport (see a prototype in the video below). The EVs are scheduled to go on sale in January of 2015, which is right around the corner. Ecocruise was started after the founder of Kasea Motorsports decided to switch to electric vehicles with the goal of offering providing affordable emissions-free driving. Learn more about Ecocruise and its vehicles at the company's website. The new EU Fuel Quality Directive (FQD) does little to discourage dirty fuels like tar sands and coal-to-liquid, says Transport & Environment (T&E). The FQD requires suppliers to reduce greenhouse gas intensity for transport fuel in the EU by six percent by 2020. The much-delayed FQD doesn't do as much as it could, though, say critics, and it doesn't label dirtier fuel sources as such despite the urging of scientists. T&E, an organization focused on cleaning up EU transport, blames Canada, the US and Big Oil.