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Aston Martin seeks ‘big brother’ despite first profit in years, IPO talk

Aston Martin just reported that it earned $121 million (or GBP87 million) in 2017, its first profit in eight years, and it's preparing for a possible initial public offering, eyeing a valuation as high as $6.95 billion (GBP5 billion). It has a strategy to begin converting its fleet to hybrid and electric powertrains. Nevertheless, the low-volume British luxury marque says it needs a helping hand to survive the wave of autonomous driving technology sweeping the automotive industry. CEO Andy Palmer tells Bloomberg it's looking for a "big brother" partner to help it with the billions of dollars in capital requirements posed by the dawn of driverless cars. "We are making a new kind of company, a company that can survive on 7,000 to 14,000 very highly priced, very profitable cars a year, but it can survive because of its partnerships," Palmer told Bloomberg TV. "It can be very profitable on that 7,000 to 14,000 cars a year but only by having a big brother that can help it out." Palmer said Aston Martin already has a partnership with Daimler AG, which owns a 5-percent stake in the company, to develop autonomous capabilities, but more help is needed. One assumes he is envious of competitors like Rolls-Royce and Bentley, which benefit from the corporate parentage and financial resources of BMW and Volkswagen, respectively. Sales grew 48 percent in 2017 to nearly 5,100 units, Aston's highest sales volume in nine years, on the strength of the DB11 sports car, which starts at $211,995. It was enough for Palmer to proclaim in a release, "The financial turnaround of Aston Martin is now complete." While it shops around for a sugar daddy, Aston Martin is busy building a new factory in Wales, set to open in 2019. It has launched new models like the DB11 Volante and Vantage, plus the limited-production DB4 GT Continuation model. Further out, the company is building 155 examples of its first electric car, the RapidE, due in 2019, and it's developing an electric version of the DBX crossover, also for 2019. Palmer has said Aston Martin will offer all six of its vehicles in hybrid variants by 2025, with 25 percent of its vehicles to be fully electric by the end of the 2020s. Related Video: Image Credit: Aston Martin Aston Martin Autonomous Vehicles Electric Luxury aston martin rapide aston martin vantage aston martin db11 aston martin dbx aston martin db11 volante

2018 Aston Martin DB11 Volante First Drive Review | The speed of style

If you're not a car designer, chances are you've tried to draw a sportscar, and realized just how hard it is to get those proportions just right. One false line, and the sleek coupe of your imagination looks like a kumquat. So you can imagine that transforming the striking V8-powered Aston Martin DB11 coupe into an equally stunning Volante ragtop was harder than it looked, a task which required Aston designers and engineers to nip and tuck everything past the windshield. "There were lots of healthy, heated debates," lead designer Julian Nunn says of how the DB11 Volante – fancy speak for convertible – was packaged. As it sits before us on a brisk winter morning in Southern France, the British drop-top has a sleek, fleet look thanks to the elegant rake of its nose, the sharp arc of its roofline, and the taut contours of its derriere. Aston's designers nailed the proportions – it's a stunner. How they got there was a game of millimeters, starting with a minuscule lift of the haunches to accommodate the eight-layer folding soft top. To soften the look of those lifted surfaces, the wheel arches are faceted slightly inboard, lending them more depth and dimension. The convertible loses the air vent at the rear, since there's no roof to create lift; as such, the so-called AeroBlade feature which ducts air through the C-pillar is also gone. But the rear spoiler remains, automatically deploying for downforce with a speed-dependent algorithm based on driving mode. The stack height (that is, the vertical space occupied by the folding roof) measures 10 inches, the lowest in its class, which helps the DB11 achieve its graceful looks with the added benefit of keeping the center of gravity low. The top takes 14 seconds to lower, and will drop at speeds up to 31 mph. A Volante with its top down puts Aston's typically gorgeous cabin on full display: the door's brogued leather details surrounded by an improbably shaped veneer surround; the complex curvature of the veneer around the capacitive touch-sensitive infotainment interface; the improbably generous swaths of leather and Alcantara upholstering the dashboard and A-pillar surfaces. There's even, for the first time, veneer on the backs of the front seats. The tiny rear seats come with ISOFIX car seat attachments, a first in a Volante. I could go on about the DB11's unusual and intriguing aesthetic choices, but I've also got a persistent gripe with the electronic instrument cluster.

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