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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

Amazon opens contest for The Grand Tour tickets in the US

British enthusiasts already had the opportunity to win tickets to the first taping of The Grand Tour, and now Amazon has opened up a similar chance for customers in the US. In celebration of Prime Day, which starts today, customers in the US can enter The Grand Tour Prime Day Prize Draw. The prize includes travel, $200 to spend, accommodation, and a meet and greet with Jeremy Clarkson, Richard Hammond, and James May. Customers that are interested fulfilling a childhood dream should visit Amazon's website and fill out the entry form soon as the draw closes on July 12. The Grand Tour will launch this fall as an exclusive for Amazon Prime members with the exact city locations for studio records set to be revealed later this summer. Amazon, however, did reveal that the trio will host shows in the UK, US, and Germany. So there's no need to get too upset if you don't win the draw. With Top Gear getting a major shakeup with the departure of Chris Evans, we're itching to see Clarkson, Hammond, and May behind the wheel of cars again. The trio, it seems, is also excited to get the new show rolling as Clarkson posted a drifty video on his Facebook page. The trio are currently in Italy filming a comparison between an Aston Martin DB11, a Dodge Challenger SRT Hellcat, and Rolls-Royce Dawn. The five-second clip has the Challenger Hellcat and DB11 drifting head-on into the camera crew, which is behind the wheel of an Alfa Romeo. News Source: Amazon, FacebookImage Credit: The Grand Tour TV/Movies Alfa Romeo Aston Martin Dodge the grand tour

Aston Martin spars with WEC over Valkyrie's exit from racing

Confirming an earlier rumor, Aston Martin announced it has stopped developing the track-going version of the Valkyrie it planned to enter in the World Endurance Championship's (WEC) new Hypercar category. It blamed its decision on a recent change in the regulations, but the sanctioning body responded that's not the full story. The British company explained it's unhappy with the WEC's decision to harmonize the Hypercar class with the LMDh category and the WeatherTech Sportscar Championship during the early 2020s. Without providing additional details, it declared the Valkyrie will not make its racing debut at the Silverstone track in August 2020 and it will not challenge Glickenhaus, Toyota, Peugeot and others in the 2021 edition of the 24 Hours of Le Mans. It added it's considering canceling the program altogether, meaning the Valkyrie would never race. Aston Martin isn't quitting racing; far from it. It will continue to enter the Vantage GTE in WEC events around the world, and the Racing Point Formula One team will be rebranded Aston Martin after the 2020 season. The sudden and unexpected entry into Formula One led by investor Lawrence Stroll may have played a role in convincing executives to cancel the Hypercar program. Racing is expensive, and Aston isn't doing well. The Federation Internationale de l'Automobile (FIA) that regulates the WEC doused cold water on Aston's explanation. It opined the harmonization doesn't impact the category, and it pledged to prove this claim when it releases additional technical specifications in March 2020. It instead blamed the decision to withdraw the Valkyrie from racing on the highly-publicized financial issues that have plagued Aston since 2019. "The decision announced by Aston Martin is very regrettable but perhaps not unexpected in light of the persistent rumors over the last six months concerning the fragility of the brand's exposure in the rapidly-evolving automotive market," it wrote. As of writing, executives haven't responded to these allegations. Aston Martin and the FIA both noted they're open to working with each other to find a solution, but the carmaker's statement is highly ambiguous. It affirms Aston's future presence in the racing world will be "defined by its activities at the highest level of both single-seater competition and endurance GT racing" and glaringly leaves the Hypercar category behind. To us, it sounds like the program has already been consigned to the attic.