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Sebastian Vettel signs with Racing Point for the 2021 F1 season

LONDON — Four-time Formula One champion Sebastian Vettel will drive for Racing Point starting next season. The team, which will be renamed Aston Martin, announced the move Thursday, a day after driver Sergio Perez said he was on his way out. The team said Vettel has signed for the 2021 season “and beyond" but did not reveal the length of the contract. “The signing of Sebastian is a clear statement of the teamÂ’s ambition to establish itself as one of the most competitive names in the sport," the team said in a statement. “As a four-time world champion, Sebastian brings a fresh mindset to the team." One of the most successful drivers in F1, Vettel is leaving Ferrari at the end of this season after he was not offered a new contract. He will be replaced by McLaren driver Carlos Sainz at Ferrari next year. Vettel has won 53 grand prix races, a tally only surpassed by Michael Schumacher and Lewis Hamilton. He won four consecutive titles with Red Bull from 2010-13 and joined Ferrari in 2015 with the aim to win another. But he never had a car really capable of challenging Mercedes during his stint with the Scuderia, where he lost his No. 1 status as teammate Charles Leclerc came to prominence. “ItÂ’s a new adventure for me with a truly legendary car company," Vettel said. “I have been impressed with the results the team has achieved this year, and I believe the future looks even brighter. I still have so much love for Formula One and my only motivation is to race at the front of the grid." Currently fourth in the constructors' standings, Racing Point was handed a 400,000 euro ($470,000) fine and docked 15 points last month for copying a Mercedes design for its brake ducts. The team, however, was allowed to continue to use the offending components this season. Racing PointÂ’s other driver is Lance Stroll, the son of co-owner Lawrence Stroll. Motorsports Aston Martin Ferrari F1 Sebastian Vettel

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:

AMG's partnership with Aston Martin won't extend past engines, for now

There's been talk of late about the technical partnership between Aston Martin and the AMG division of Mercedes-Benz going beyond engines to include Mercedes sports car and SUV platforms for the English brand, perhaps as a way to kickstart the development of a Lagonda SUV. But AMG CEO Tobias Moers, speaking to Top Gear, said that's effectively out of the question because, "No one has the time to discuss any more involvement than that for now."
Moers believes Aston Martin will be so busy "for the next two to three years" integrating its AMG-sourced engine and electronics that it won't have the resources to devote to working out a platform-sharing deal; Daimler sources have already said that Aston Martin's development budget "just isn't enough" to even consider a whole new model, and that greater cooperation would require something like a larger ownership stake in the boutique sports car maker.
AMG, in the meantime, is busy with the recent launch of the GLA45 AMG, the coming C63 AMG and its rumored 4.0-liter V8, the Mercedes-AMG GT and its assault on the Porsche 911 among who-knows-what other skunkworks projects. Moers said the technical partnership is about profit for AMG, clear and simple, and, "All these rumors about platform sharing are nice but no one at Aston or Mercedes has the time to discuss them."