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Aston Martin sheds light on its first two electric vehicles

Aston Martin's on-again, off-again electric car rollout is beginning to take shape. Bolstered by stakeholder Daimler, the British carmaker detailed the first two battery-powered models that it plans to bring to the market. Speaking to the Financial Times, company stakeholder Lawrence Stroll confirmed that at least two electric Aston Martin models are on their way after several false starts. One will be a sports car in the vein of the DB11, and the other will be an SUV. Both will be built in the United Kingdom, so they will not roll off a Mercedes-Benz assembly line, but neither's design has been finalized yet. Stroll affirmed that his team hasn't even decided what to call them. As we previously reported, both of these EVs are likely to use at least some technology borrowed from Mercedes-Benz. Daimler will increase its stake in Aston Martin to 20% by 2023, and it's granting the company access to its hybrid and electric powertrains in return. It's a win-win situation: on one hand, Aston Martin receives state-of-the-art turnkey components. On the other hand, Mercedes-Benz is able to leverage the benefits of economies of scale. It's still too early to tell precisely which parts Aston Martin will use to build its first electric cars. It could borrow a platform from Mercedes-Benz, it could use powertrain components (like batteries and motors), or it might sign up for both. "We're looking at all options," explained Stroll. Regardless, the company's much-hyped plans to recycle the decades-old Lagonda name to denote a luxurious sub-brand focused on electric cars have been canned. Tobias Moers, the company's CEO, confirmed that the first electric Aston Martin models will go on sale in 2025 or 2026. In the meantime, the company will launch several hybrids, including a fuel-sipping version of the DBX. Aston Martin needs to go electric, because it will no longer be allowed to sell cars powered by an internal combustion engine in its home country of England after 2030. It's not entirely phasing out its gasoline-powered models, however. Stroll previously stressed he doesn't think the internal combustion engine will ever fully disappear. Related Video:

Weekly Recap: Marchionne's Manifesto again calls for industry consolidation

Sergio Marchionne isn't taking no for an answer. Despite public rebuffs from General Motors and Ford, the leader of Fiat Chrysler Automobiles continues to push for consolidation within the auto industry. His latest assertion came Wednesday when he said a combination of FCA with another automaker could net savings of $5 billion or more annually. No, this isn't about selling his company, he claimed, it's about cutting costs. Put simply, the auto industry wastes money, Marchionne said during FCA's earnings conference call. Companies invest billions to develop basic components that all cars use, but many consumers don't care how they work or recognize the differences. "About half of this is really relevant in terms of positioning the car in the marketplace," he said. "The other half, in our view, is stuff which is neither visible to the consumer nor is it relevant to the consumer." In 2014, top automakers spent more than $100 million on product development, FCA estimated. Marchionne said consolidation could save up to $1 billion on powertrains alone, noting that almost every automaker offers four- and six-cylinder engines. Not everyone has to make their own, he contended. "The consumer could not give a flying leap whose engines we are using because they are irrelevant to the buying decision." That's pretty provocative for enthusiasts, but less so for average consumers. Still, there are major differences in power and efficiency ratings, even among similar engines. Skeptics could argue consolidation would also weaken competition and reduce choices for car buyers. Marchionne stressed his presentation, curiously entitled Confessions of a Capital Junkie, wouldn't require closing factories or dealerships. It's not his final "big deal" as CEO, intent to sell FCA, or a way to elevate his company up the automotive food chain. He claims he wants to fundamentally change the industry and its habit for burning cash. "The horrible part about this, and the thing that I find most offensive, is that the capital consumption rate is duplicative," he said. "It doesn't deliver real value to the consumer and it is in its purest form, economic waste." Other News & Notes Ford Profits dip in first quarter Ford profits fell $65 million to $924 million in the first quarter, hampered by slight dips in revenue and sales.

Daniel Craig's personal James Bond Aston Martin is for sale

LOS ANGELES — James Bond is parting with his personal Aston Martin. Actor Daniel Craig, who has played the British spy known as 007 in four films, is auctioning for charity the limited-edition vehicle made for him by Aston Martin four years ago, Christie's auction house said on Thursday. Aston Martin cars have appeared in Bond films over nearly 50 years, beginning with 1964's "Goldfinger" in which Sean Connery drove a silver Aston Martin DB5. The brand has appeared in all four Bond films starring Craig. Craig's personal car is a 2014 Vanquish that Aston Martin produced just 100 examples of to celebrate its 100th anniversary. Craig's vehicle is, naturally, number 007. "It was an homage, really, to his career," Becky MacGuire, director of Christie's' The Exceptional Sale, said in an interview. "What he's brought to the Bond character has been so appreciated by the company and, of course, zillions of fans." The vehicle has a midnight blue exterior and dark blue luxury leather interior chosen because of Craig's preference for denim and dark colors, Christie's said. Proceeds from the sale will benefit New York-based charity The Opportunity Network, which helps students from disadvantaged communities achieve their college and career goals. Craig and his wife, actress Rachel Weisz, both sit on the organization's board of directors. The car's value is estimated at $400,000 to $600,000. It will be displayed at Christie's showroom in Los Angeles from Feb. 27 to March 3 before moving to New York, where it will be auctioned on April 20 as part of Christie's annual decorative arts masterpiece sale called The Exceptional Sale. Last year, Craig said he will reprise the role of James Bond one last time. The film is expected to be released in U.S. cinemas on Nov. 8, 2019.Reporting by Nichola Groom Related Video: