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Aston Martin announces Rapide E as its first all-electric model

Aston Martin has announced official specifications for its first battery-electric model, which will be the Rapide E. Developed together with Williams Advanced Engineering, the 2019 Rapide E will have two electric motors good for a total of 610 horsepower and 700 pound-feet of torque. The Rapide E four-door, which will be produced in a limited run of 155 units, will be good for 155 mph. Its WLTP range target is said to be over 200 miles, and an hour of charging is good for 185 miles, using a regular 400-volt 50kW charger. Aston says the car's 800V battery system can also be charged with a 100kW+ charger at a rate of over 5 miles per minute. The electric powertrain is where the Rapide S's six-liter V12, gearbox and fuel tank would normally reside, to keep weight distribution in check; using composite materials and lightweight alloys, Aston has been able to meet the Rapide E's weight targets. To beat the aerodynamics of the Rapide S and to make it as silent as possible, both the car's exterior and underbody have been given a makeover from an EV development viewpoint and the low-rolling-resistance Pirelli P-Zero tires even feature noise-canceling foam inside them. As Aston is still in the business of making sports cars, the Rapide E's performance must be up to par: It reaches 60 mph in less than 4 seconds, and the 50-70 mph overtaking time is just 1.5 seconds. Aston says these figures can also be reached with a battery that is less than fully charged – the target is for "maximum performance on-demand throughout majority of the battery state of charge window," to put it succinctly. Aston's benchmark is that the Rapide E is capable of a full Nurburgring lap without any derating of the battery, with the electric version able to give a hassle-free performance expected of an internal combustion car. Perhaps that is a veiled reference to Teslas that have experienced overheating problems in track use. Aston Martin also states that it has strived to keep the Rapide E feeling like an Aston Martin, especially compared to the V12-engined Rapide S sibling. For Aston, this has meant chassis and electric powertrain tuning to retain the Rapide S's handling characteristics and "feel," including using a limited-slip differential through which the twin electric motors deliver their power — and keeping an eye on the springs, dampers and software integration to keep the car from feeling ponderous or clunky.

Electric Aston Martin Rapide could be on the way

Aston Martin is looking into building an electric version of the Rapide to launch in the next two or three years. Andy Palmer, the company's new chief executive, said so to the Wall Street Journal at the New York Auto Show this week. A spokesman confirmed the plans to Autoblog. The project would bring in an as-yet undisclosed partner that could come from Silicon Valley, and while we don't know at this point just which company that would be, Palmer said it's not Tesla. Having formerly held senior positions at the Renault Nissan Alliance, Palmer has a wealth of experience with EVs that he brings with him to the British automaker that was recently infused with cash. This wouldn't be the first time that Aston would be experimenting with the prospect of electric propulsion. It showcased the DBX electric crossover coupe concept at the Geneva Motor Show, and even fielded a hybrid hydrogen-powered version of the Rapide in a 24-hour endurance race at the Nurburgring a couple of years ago. The Rapide is Aston's four-door model, based closely on the DB9. It was launched in 2010 after a concept version from 2006. After initially being produced under contract by Magna Steyr in Austria, Aston moved assembly back home in 2012. A revised Rapide S ensued the following year, upping output from its 6.0-liter V12 engine from 470 horsepower to 550 and swapping the six-speed automatic for an eight-speed. According to the WSJ, Palmer also confirmed a new crossover and large luxury sedan in the pipeline, the latter to compete with Rolls-Royce and both of which we expect will wear the Lagonda badge revived by the new Taraf launched in Dubai.

Canadian billionaire Lawrence Stroll leads $240 million Aston Martin investment

After months of rumors and speculation, Canadian billionaire Lawrence Stroll confirmed he led the purchase of a 16.7% stake in Aston Martin for GBP182 million ($239 million). The investment is part of a GBP500 million ($656 million) round of emergency funding that will help the British automaker overcome serious financial challenges. Yew Tree Overseas Limited, a consortium of international investors led by Stroll, built its stake by buying 45.6 million new ordinary Aston Martin shares on the London Stock Exchange, according to Autocar. Aston Martin raised the remaining GBP318 million ($417 million) by giving existing investors the opportunity to buy more shares, the BBC learned. It's not a full bailout, but it's close. Aston Martin ended 2019 in dire financial straits. Stroll will replace Penny Hughes as Aston Martin's chairman; CEO Andy Palmer is expected to keep his job. Several sources confirmed the Racing Point Formula One team owned by Stroll will be rebranded Aston Martin after the 2020 season, and Autocar reported the company will quickly need to eliminate jobs and slash costs. "The difficult trading performance in 2019 resulted in severe pressure on liquidity, which has left the company with no alternative but to seek substantial additional equity financing. Without this, the balance sheet is not robust enough to support the operations of the group," Hughes admitted in an interview with the BBC. Stroll's' appointment to the Aston Martin board comes as the company prepares to overhaul its product plan. It notably confirmed the rumors claiming it put the battery-powered Rapide project on the back burner until further notice, and it delayed plans to revive the Lagonda nameplate on a series of extra-luxurious electric vehicles until after 2025. The first car was originally scheduled to reach the market in 2022, but the battery technology is expensive to develop, and Aston must save about 10 million pounds (around $13 million) annually. The firm will instead focus on mid-engined sports cars. Still according to Autocar, it will begin delivering the 1,160-horsepower Valkyrie hypercar this year, and it's on track to launch the Valhalla in 2022. The Vanquish will go mid-engined shortly after. Delaying electric cars doesn't mean abandoning electrification, and Aston Martin hopes to release "a fuel-efficient, modular V6 engine with hybrid capabilities" by the middle of the 2020s.