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Aston Martin mulls Formula E, but one thing must change

It may be the off-season, but Formula E is on fire. It seems that everybody is scrambling for a spot on the grid. Jaguar relaunched its racing program in the electric series, and is doubling down with a support series. Audi took a more prominent position for next season. BMW's in. Mercedes-Benz will be joining, too. Porsche has ditched WEC for Formula E. FCA is interested. So it shouldn't be too surprising, then, that Aston Martin is now considering a Formula E entry, as Automotive News Europe reports. Aston Martin CEO Andy Palmer told the outlet that the series could support the company's development of electric vehicles, such as the upcoming RapidE, pictured above. "We don't have an electric car yet, but we will have in 2019," he said. "You can imagine the two coming together. I love Formula E." Palmer said, though, that Aston Martin wouldn't want to join the series until it does away with car swaps mid-race. "For me, the use of the two cars reinforces the range anxiety," Palmer told Automotive News Europe. "That will change, and then it starts to get interesting." In the past, other automakers have expressed similar concerns about car swaps. The upcoming season will be the last to use the practice, and Formula E will move toward using a single car per driver for each race beginning in the 2018-19 season. Aston Martin scaled back plans for the RapidE electric car after its partner LeEco pulled out of the project. Instead, Aston Martin will rely on the engineering expertise of Williams, and limit the RapidE to 155 units, priced at around $255,000. Related Video: Featured Gallery Aston Martin RapidE concept View 12 Photos News Source: Automotive News EuropeImage Credit: Aston Martin Green Motorsports Aston Martin Electric Racing Vehicles Formula E aston martin rapide fia formula e championship

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 owners rev up for possible sale or stock IPO

LONDON — Aston Martin's owners have hired financial advisory firm Lazard to prepare for a stock market listing or sale of the British sports car maker made famous by fictional spy James Bond, sources familiar with the matter told Reuters. Italian private equity fund Investindustrial and a group of Kuwaiti investors, who together own more than 90 percent of the marque, are hoping to cash in on a recovery in sales and are in the initial stages of a strategic review. They have hired investment bank Lazard to work on a preliminary plan and could either opt for an initial public offering (IPO) in the third or fourth quarter of 2018 or a trade sale, two of the sources said on Friday. A deal could value the maker of the sports car driven by Britain's Prince William on his wedding day at between 2 billion and 3 billion pounds ($4 billion), one of the sources said, adding a listing was the most likely option. However, no final decision had been taken and the investors could decide to retain control, the sources added. Investindustrial declined to comment while Aston Martin and Lazard did not return requests for comment. Adeem Investment, one of the Kuwaiti investors, was not immediately available. If successful, a float of Aston Martin would be a milestone deal for the 104-year-old car manufacturer and would follow the IPO of Italian sportscar maker Ferrari which made its Wall Street debut in 2015 amid strong investor demand. Investindustrial, led by founder Andrea Bonomi, bought 37.5 percent of Aston Martin in 2012 in what was the fund's best-known investment in Britain. The fund, which has clinched a number of Southern European investments since its launch in 1990, is Aston Martin's single biggest investor and is driving the plans, the sources said. Beside Lazard, other investment banks have approached the private equity fund in recent weeks offering advice ahead of a possible IPO, another source said. Yet no other mandates will be awarded this year for the Gaydon-based firm, which is in the midst of a turnaround plan that aims to restore the business to profitability following six years of losses. Aston Martin, which recently unveiled its new Vantage model, is on course to post its first annual pre-tax profit since 2010 as strong demand for the luxury automaker's DB11 sports car boosts its performance.