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Aston Martin makes RapidE electric car a limited edition after LeEco pulls out

Aston Martin was forced to scale back production plans for its first electric model after cash-strapped investment partner LeEco pulled out of the project, Chief Executive Andy Palmer told Reuters on Monday. The result, though, may be an even more exclusive car, aimed at customers who consider Tesla's top of the range $130,000 Model S to be a little too run of the mill. Aston Martin will build only 155 of its RapidE, about a third of the initial plan, and lean more heavily on Formula One engineering specialist Williams after the withdrawal of Chinese TV and smartphone vendor LeEco, Palmer said. The setback and Aston's response underscore the challenges and risks niche carmakers face as they scramble to address future demand for electrification from consumers and regulators. While the privately held Aston Martin brand benefits from the endorsement of fictitious spy James Bond, it lacks the backing of a large automotive parent that many rivals enjoy. "We've decided to make this car rare, which will obviously tend to push the price higher," Palmer said. "Aston Martin now plans to proceed independently, funding further development of RapidE by ourselves." Palmer agreed to be interviewed after sources told Reuters Aston Martin's partnership with LeEco had unraveled. Unveiling the alliance in February last year, LeEco and Aston pledged to launch an all-electric version of the Rapide S sedan in 2018. But the Chinese conglomerate has since slashed its electric car investments, including its U.S. startup Faraday Future's planned $1.3 billion factory in Nevada. Some Faraday suppliers, including seat maker Futuris and media provider Mill Group, have sued the company for non-payment, according to court records. Spokesmen for LeEco and Faraday did not respond to requests for comment on the end of the Aston partnership. Aston Martin declined to discuss its partner's business. $250,000 PRICE TAG Aston returned to profit in the first quarter, a decade after it was sold by Ford. Now owned by private equity groups Investindustrial and Kuwait's Investment Dar, the company is rolling out a new model each year under a taut recovery plan drawn up by Palmer, who joined from Nissan in 2014. Without LeEco's backing, the sports carmaker, based in Gaydon, Warwickshire, is pushing ahead as sole investor in the electric car, after paring down production and pushing back the launch date to 2019. The plan won board approval on June 21.

Buy Sir Stirling Moss's '54 Aston Martin DB3S for just $10m

Bonhams estimates this rare 1954 Aston Martin DB3S will fetch as much as $10 million when it hits the auction block late next month. The fifth of 31 examples (and only 11 works racers) built, this particular DB3S was originally built for the private use of the company's owner David Brown. But after three other examples were destroyed at Le Mans in 1954, Brown handed his car over to the racing department, which replaced the fiberglass bodywork with aluminum and put it to work. Drivers like Sir Stirling Moss, Peter Collins, and Roy Salvadori drove it at Spa, the Nurburgring, and the Mille Miglia. As if that provenance weren't enough, the roadster then went on to appear in the '60s comedy School for Scoundrels alongside Ian Carmichael, Terry-Thomas, and Janette Scott – plus an Austin-Healey 100-Six and a 1928 Bentley 4 1/2 -Litre Open Tourer dubbed the "Swiftmobile." Bonhams has chassis number DBS3S/5 consigned for its upcoming sale at the old Aston Martin Works factory in Newport Pagnell. With all that history, the auction house anticipates it will sell for GBP6,000,000-7,000,000 – equivalent to $8.5-10 million at current exchange rates. That would, according to the records at Sports Car Market, make it one of the most valuable Astons ever sold at auction, besting the DB3S that Gooding & Company sold in 2014 for $5.5 million. Related Video: THE 1954 ASTON MARTIN DB3S: CAR OF THE SILVER SCREEN RACED BY THE GREAT STIRLING MOSS, NOW OFFERED AT BONHAMS A rare Aston Martin Works team car – chassis number DB3S/5 – which was campaigned in period by such legendary racing drivers as Sir Stirling Moss, Peter Collins and Roy Salvadori, and latterly went on to co-star with Terry-Thomas in 1960s movie classic 'School for Scoundrels', will be offered at Bonhams Aston Martin Works Sale on 21 May 2016. It is estimated at GBP6,000,000-7,000,000. This historic Aston Martin began life as the personal road car of David Brown, the multi-millionaire industrialist owner of the Aston Martin marque. Under Brown's reign the legendary post-World War 2 'DB' series of Aston Martin cars were built, including the Atom, the DB2, DB3, DB4, DB5, DB6, DB7, DB9 and the DBS, all named using Brown's initials. Aston Martin also built a number of DB3S models for the Works racing team.

Aston Martin brings ice driving program to America [w/video]

With between four and six hundred horsepower channeled to the rear wheels from a V8 or V12 engine mounted up front, an Aston Martin – any Aston Martin, really – might not seem like the smartest choice for driving on ice and snow. But that can also make it the most fun, and the most enlightening to experience. That's the point behind the Aston Martin On Ice program: allowing customers to drive the latest Gaydon has to offer on slippery, wintery surfaces. But whereas the On Ice program has been established for years in St. Moritz, Switzerland and in the Swedish Lapland, this year it arrived in America for the first time. A series of custom tracks – including a braking/cornering loop, slalom, skid pad and a full circuit – were carved into the snow in Crested Butte, CO, where expert driving instructors taught customers a thing or two about how to handle a powerful twelve-cylinder GT car like a DB9, Vanquish or V12 Vantage. The program has concluded for the season, returning next February, but in the meantime Aston will use the Colorado base camp as the center of its driving experience through the Rockies. Check out the video footage and the details in the press release below. ASTON MARTIN... ON ICE - New US ice driving program launches in Crested Butte, Colorado - Affords customers the opportunity to drive full Aston Martin range in extreme winter conditions - Utilises custom-built Aston Martin facility Irvine, CA, 17 March, 2014 – Aston Martin has launched the company's first ice driving program in North America, hosted at Crested Butte, Colorado providing customers with the ultimate driving experience against a stunning mountainous backdrop. Offering customers the opportunity to experience the full potential of the Aston Martin range and hone their driving skills, the new On Ice program took place in the heart of the Colorado Rocky Mountains in a unique setting, with an ice track custom built for the occasion as illustrated in a new film from the event, released today. Comprising a braking/cornering exercise loop, slalom, skid pad and full circuit, the bespoke Aston Martin track was especially constructed for the occasion over the last four months. Under expert tuition, participants were guided through the facility, embarking upon a series of braking, cornering and handling exercises before putting their skills to the test on a mile-long frozen road course.