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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

Aston Martin pens new DB10 for James Bond

James Bond has driven a variety of vehicles over the course of his long and fictitious career in espionage, but few marques have been as intrinsically tied to the famous spy as Aston Martin. For the past few films that's come down to the DBS, but for the next one, 007 is switching to the one you see here. Called the DB10, this latest Aston was designed specifically for the upcoming movie Spectre. Technical details were not disclosed, but the design demonstrates a clean break with the styling that has characterized Astons for the past couple of decades. Working with EON Productions – the studio responsible for the Bond films – Aston's chief designer Marek Reichman and his team penned a new form with decidedly different design cues and applied them to a shape that looks similar to the current V8 Vantage, but with different lines. Beyond the silver screen, Aston will build only ten production examples of the DB10. The bigger question, however, is whether this design will inform the new generation of sports cars and luxury GTs from Gaydon. In the meantime, moviegoers will be able to see the new DB10 in action in Spectre when it debuts on November 6, 2015. Built for Bond: Aston Martin debuts unique car for Spectre - Aston Martin DB10 created specifically for new Bond film - Partnership with EON Productions spans 50 years of cinema history - Demonstrates the breadth of Aston Martin's bespoke capabilities 4 December 2014, Gaydon: Aston Martin together with EON Productions, the producers of the James Bond film franchise, unveiled Bond's stunning new car, the Aston Martin DB10, on the 007 stage at Pinewood Studios. The luxury British sports car brand is delighted to confirm that James Bond will once again drive an Aston Martin in Spectre. On this occasion, it will be a model developed specifically for the film and built in-house by the brand's design and engineering teams. Led by Aston Martin Chief Creative Officer, Marek Reichman, the design team worked closely with the film's director, Sam Mendes, to create the ultimate car for the world's most famous spy. Celebrating the great British brand's half century with Bond, which started with the iconic DB5, the DB10 gives a glimpse to the future design direction for the next generation of Aston Martins.

Aston Martin CEO calls Tesla Model S 'Ludicrous' mode stupid

To be fair, some would say paying as much as a quarter-million dollars for a car in itself qualifies as "ludicrous." But the CEO of Aston Martin, a company that is readying a pricier electric-vehicle competitor to the Tesla Model S, didn't mince words in discussing Tesla's newest gizmo that can propel the sedan from 0 to 60 miles per hour in less than three seconds. In fact, Andy Palmer, Aston's CEO, prefers a slightly more balanced approach. Palmer was quoted in Automotive News as saying that Tesla's Ludicrous Mode was "stupid." He added that he'd rather have an electric vehicle that could last "a few laps of a decent race course" instead of one that does its best imitation of a Dodge Challenger Hellcat. Palmer also took to his Twitter account to note, among other things, that the Aston's "insane mode comes as standard - no button required." Aston Martin said earlier this week that it planned to make a battery-electric variant of its Rapide Sedan. That model will have 800 horsepower as well as a 200-mile single-charge range. The car will also cost between $200,000 and $250,000, or about twice the cost of a top-of-the-line Model S. As for the Tesla, its Ludicrous mode was announced last month for the Model S and it will eventually be added to the Model X for those who are big on flipping SUVs. Tesla said that the feature cuts the sedan's 0-60 mpg time to a tidy 2.8 seconds, though the option does cost about $10,000. Which is probably about the price of an Aston Martin door handle. Featured Gallery 2015 Aston Martin Rapide S View 32 Photos News Source: Automotive News (subs req'd) Green Aston Martin Tesla Electric ludicrous mode