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Aston Martin confirms Mercedes-AMG boss Moers to replace CEO Palmer

Aston Martin confirmed on Tuesday that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer, who stepped down on Monday. The Financial Times newspaper reported over the weekend that Palmer would step down, before he had been informed. A source familiar with the situation had also confirmed to Reuters the planned move. "The board has determined that now is the time for new leadership to deliver our plans," Lawrence Stroll, Aston Martin Lagonda's Executive Chairman said. The company said Moers, who will be based at its headquarters in Warwickshire, had built a reputation for transforming businesses in tough environments during his 25 years in senior roles at Daimler. Germany's Daimler AG owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines. "Under Tobias’ leadership, Mercedes-AMG has more than doubled its product portfolio and quadrupled the number of AMG units sold, with a clear pipeline of further expansion opportunities, especially in electrification of powertrains in the performance segment," Aston Martin said in a statement. "TobiasÂ’ focus on operating and manufacturing efficiency has delivered significant margin expansion. This strong financial performance was supported by the introduction of a clear brand management strategy, which delivered a measurable increase in brand value and awareness." Aston Martin 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. "All of my and TobiasÂ’ energy will be dedicated to building on the CompanyÂ’s inherent strengths, its brand, its engineering prowess, and the skills of its people to enable Aston Martin to become one of the pre-eminent luxury car brands in the world," Stroll said. Related video:

Valtteri Bottas on pole for Formula One's 1,000th race

Valtteri Bottas will start Formula One's 1,000th world championship race from pole position after leading Mercedes team mate Lewis Hamilton in a front row lockout at the Chinese Grand Prix on Saturday. Ferrari's Sebastian Vettel qualified third, ahead of 21-year-old Monegasque team mate Charles Leclerc who was unable to repeat his Bahrain Grand Prix pole of two weeks ago. Bottas, who won the season opener in Australia and leads defending champion Hamilton by one point in the standings, was the third different driver to take pole this season in three races. "The lap was OK, not completely how I wanted. Luckily it was good enough for pole," smiled the Finn, who pipped Hamilton by 0.023 seconds after setting a best time of one minute 31.547. "Lewis also managed to improve a lot during the qualifying and it was super-close." The pole was a first for Bottas since Russia last September and the seventh of his career. It was also his first in China where Mercedes have won five of the last seven races. Hamilton sounded happy just to be on the front row, despite six previous poles in Shanghai, after looking out of sorts in practice. "I didn't give up, I kept pushing right to the end. Big congratulations to Valtteri, he's been stellar all weekend and I've been struggling and fighting the car," said the Briton. "To be as close as we are at the end is fantastic. An incredible result for the team. There was a little bit more time left on the table there but that's cool, I'll try and get it tomorrow," added Hamilton. UNHAPPY VERSTAPPEN Ferrari had arrived in China as favorites after showing their speed in Bahrain, particularly on the straights, with Leclerc on pole and leading until a loss of engine power in the closing laps. While unable to match the quick-cornering Mercedes cars for overall pace in Shanghai, Vettel hoped to be closer on Sunday thanks to the track's main straight being more than a kilometer long. "I think there was maybe a little bit more but overall not enough to beat these guys today," said the 31-year-old German, a four times world champion. "If we get close we could have an advantage in a straight line." The top 10 positions went two-by-two in team order, with Red Bull's Max Verstappen and Pierre Gasly fifth and sixth and ahead of the Renault pair of Daniel Ricciardo and Nico Hulkenberg – the Australian just 0.004 ahead of the German.

7 major automakers to build open EV charging network

A new joint venture established by BMW, GM, Honda, Hyundai, Kia, Mercedes-Benz and Stellantis will build a new North American electric vehicle charging network on a scale designed to compete with Tesla's industry-benchmark Supercharger network. The 30,000-plus planned new chargers will accommodate both Tesla's almost-standard North American Charging System (NACS) and existing automakers' Combined Charging System (CCS) options, effectively guaranteeing compatibility with the vast majority of current and upcoming electric models — whether they're from one of the involved automakers or not.  "With the generational investments in public charging being implemented on the Federal and State level, the joint venture will leverage public and private funds to accelerate the installation of high-powered charging for customers. The new charging stations will be accessible to all battery-powered electric vehicles from any automaker using Combined Charging System (CCS) or North American Charging Standard (NACS) and are expected to meet or exceed the spirit and requirements of the U.S. National Electric Vehicle Infrastructure (NEVI) program." Critically, the automakers involved will have a say in how the charging tech is implemented, guaranteeing that the hardware will play nicely with each automaker's in-house charging systems. Hyundai and Kia, for example, were hesitant to jump on board the Tesla NACS bandwagon earlier this year over concerns that the Supercharger network is insufficient for powering the two automakers' 800-volt charging systems; similar tech is used by Volkswagen and Porsche.  In addition to providing much-needed capacity and high-output charging for America's growing fleet of electric cars and trucks, the new network will integrate seamlessly with each automaker's in-app and in-vehicle features, rather than forcing customers to use third-party tools and payment systems, as is the case with some existing public charging infrastructure.  "The functions and services of the network will allow for seamless integration with participating automakersÂ’ in-vehicle and in-app experiences, including reservations, intelligent route planning and navigation, payment applications, transparent energy management and more. In addition, the network will leverage Plug & Charge technology to further enhance the customer experience," the announcement said.