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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.

Aston Martin bringing Vantage GT12, Lagonda to Goodwood

Over the past 22 years, the Goodwood Festival of Speed has become one of the premier classic car events in the world. It's a place where incredibly rare vehicles are dusted off and are actually driven up the estate's famous hill. In addition to all of the wonderful things on display there this year, Aston Martin is giving the public a look at two of the brand's rarest current models – the Vantage GT12 (pictured above) and Lagonda Taraf. Goodwood is actually the first time the Vantage GT12 will be displayed on British soil, and all 100 units of it are already sold out. Aston originally debuted the stripped-out, 592-horsepower, V12 coupe at the 2015 Geneva Motor Show as the Vantage GT3, but a legal dispute with Porsche over the name forced the switch to the current moniker. Rather than just a static display, Aston CEO Andy Palmer has also decided to drive a GT12 up the hill. If race-inspired, limited-edition coupes somehow aren't your thing, Aston Martin is also putting the Lagonda Taraf on display. Once exclusively available in the Middle East, the 200 examples of the carbon-fiber sedan are now for sale only by invitation, and this outing at Goodwood actually marks its global, public debut, outside of a major auto show. Each one is assembled by hand at the same dedicated facility responsible for vehicles like the One-77. Beyond the company's latest and most limited production models, visitors to Goodwood also have the opportunity to watch the hillclimb by the #97 Vantage GTE racer from Le Mans with a mind-bending livery. Rarities like the CC100 are going to be making runs, as well. As usual, if you can make it the UK, this sounds like a must-see event. Related Video: ASTON MARTIN TO THRILL GOODWOOD WITH ITS BIGGEST-EVER PRESENCE 18 June, 2015, Gaydon: Aston Martin arrives at the 22nd Goodwood Festival of Speed next week with a superb line-up of exclusive and exciting sports cars and super saloons which, together, represent its biggest presence yet at the world-renowned celebration of motoring and motorsport. The luxury British sports car maker will treat the Goodwood patrons to a feast of 'firsts', including the UK debut of the motorsport-inspired, and now sold-out, Vantage GT12 and the global dynamic debut of the strictly-limited luxurious new Lagonda Taraf super saloon.

Aston Martin DB4 GT Zagato expected to fetch over $16M

Classic car collectors will want to head to New York on December 10. That's where RM Sotheby's will be holding its Driven by Disruption sale, with some of the most desirable pieces of automotive history on the docket. And arguably the most tempting of them is the 1962 Aston Martin DB4 GT Zagato pictured here. The start of a long and distinguished partnership between Aston Martin and Zagato, the DB4 GT is considered by many (ourselves included) to be one of the most beautiful automobiles ever made. You can judge for yourself after looking over the images in the gallery above. Only 19 were originally made, of which this, the 14th example, was the only one delivered new to Australia. After undergoing a complete restoration in 2002, chassis number DB4GT/0186/R won first-in-class awards at both Pebble Beach and Villa d'Este. RM hasn't published pre-sale estimates for how much it expects to get for this one, but in correspondence with Autoblog, a spokesperson for the auction house revealed that "it is expected to fetch in excess of $16 million USD when it crosses the podium in December." That would eclipse by order of magnitude the prices fetched at auction for previous examples in recent years, which (according to the records at Sports Car Market) have traded hands for around $2.5 million. Of course, the Aston isn't the only classic automobile consigned for the event. With two months still to go before the auction takes place, RM has confirmed a 1955 Siata 208S Spider that's expected to fetch upwards of $1.5 million, a '53 Ferrari 250 Europa (~$4 million), and a '38 Bugatti Type 57C Atalante (>$2 million). Fans of more modern and rare equipment, however, may be more enticed by the Lamborghini Concept S previously announced for the auction, expected to go for as much as $3 million.