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Aston Martin sues dealer over $3.5 million Valkyrie supercar

Aston Martin Lagonda Global Holdings said it’s suing a company affiliated with one of its dealers in Switzerland, alleging that it withheld customer deposits collected for the $3.5 million Valkyrie supercar. The automaker accused Nebula Project AG of failing to pass some deposits taken from customers along to Aston Martin and said it has terminated an unconventional commercial arrangement its previous management team entered in 2016. Under the now-dissolved deal, Nebula had agreed to fund development of the Valkyrie and other mid-engine cars in exchange for royalty payments. As a result of terminating the agreement with Nebula, Aston Martin is no longer liable for any potential royalty payments, which could have been “significant” over time, the carmaker said in a statement Tuesday. The company also cut off its dealer arrangements with AF Cars AG, the company that operates Aston Martin St. Gallen in Switzerland, whose board members manage Nebula. A spokeswoman for the cantonal prosecutorÂ’s office in St. Gallen said they are expecting a lawsuit to be filed but hadnÂ’t received it as of noon Tuesday. A spokesman for Aston Martin St. Gallen was not immediately available to comment, according to a receptionist. The canton of St. Gallen in eastern Switzerland is home to just 510,000 people but generates gross domestic product of almost 39 billion Swiss francs ($42 billion), making it a natural fit for wealthy fans of supercars. The Valkyrie, which Aston Martin expects to start shipping in the second half of the year, is intended to compete with mid-engine models made by the likes of Ferrari and McLaren. While Aston Martin believes the net impact of its actions against Nebula will be positive over time, itÂ’s expected to reduce cash flow and earnings before interest, taxes, depreciation and amortization by as much as 15 million pounds this year. The automakerÂ’s shares traded down 1.9% as of 11:50 a.m. in London, paring an earlier decline of as much as 4.9%. Valkyrie customers will still receive their cars as scheduled, Aston Martin said, despite the company not having received all the deposited funds. The company said it will take deposits for special vehicles directly from customers going forward instead of through dealers. Aston Martin racked up significant losses after going public in 2018 and has spent the last year restructuring itself after a rescue by Canadian billionaire Lawrence Stroll, who took over as chairman.

Aston Martin wants to get involved in F1 engines

LONDON — British luxury sportscar maker Aston Martin is looking to get more engaged in Formula One, chief executive Andy Palmer said on Sunday amid speculation of a title partnership with Red Bull and future engine involvement. "We want to be more involved in the sport," Palmer told Britain's Channel 4 television while attending the Singapore Grand Prix. "We're currently studying the 2021 engine. If we get a reasonable regulation that brings down the cost of the engine, Aston would like to be involved in the engine," added the Briton. "And then of course we'd like to be involved a little more next season and then join the dots. But it really depends on what happens with the engine regs." Red Bull and Aston Martin have an existing relationship, with the team's race cars carrying branding for the marque since last year. Top designer Adrian Newey, whose Renault-powered Red Bull race cars won four successive drivers' and constructors' titles between 2010-13, has worked with Aston Martin on the AM-RB 001 Valkyrie 'hypercar'. Media reports have suggested Aston could become Red Bull's title sponsor next season. Former Nissan executive Palmer was a key figure in negotiating just such a previous deal for the Japanese manufacturer's Infiniti brand, which has now gone to the Renault works team, to partner Red Bull. The British-based team currently use Renault engines, branded Tag Heuer. Formula One, under new management since U.S.-based Liberty Media took over in January, and the governing FIA are looking at what sort of unit will power the series once the current agreement expires in 2020. The aim is to bring down costs and allow a cheaper and less complex engine than the current 1.6 liter V6 turbo hybrid power units, one that could also encourage new manufacturers into the sport. Aston Martin, a 104-year-old firm whose road cars have become closely associated with fictional British secret agent James Bond, last competed in Formula One in 1960. The company is now owned mainly by Kuwaiti and Italian investors and is seeking to boost its share of U.S. markets. Last month Aston reported its first half-yearly profit in almost a decade and it expects full-year volumes to rise by around a third to roughly 5,000 cars. Reporting by Alan BaldwinRelated Video: Motorsports Aston Martin Renault Technology Emerging Technologies Racing Vehicles F1 adrian newey

2020 Aston Martin DBX pricing, interior revealed

We’ve gotten the rundown on the 2020 Aston Martin DBX's performance specs and heard the sound of its V8, seen the grille and learned about its dog-friendly Pet Pack and other accessories. There's also all those spy shots of mule versions running about. Now we have our first image of the interior and details on pricing of AstonÂ’s first SUV ahead of its Nov. 20 unveiling in Beijing. First up, the price. And it ainÂ’t cheap, but you knew that, because itÂ’s an Aston Martin. The off-road-capable luxury crossover will start at $189,900 here in the United States. That puts it in the rarified air of competitors like the Lamborghini Urus, the Rolls-Royce Cullinan and the Bentley Bentayga. For that kind of cheddar, youÂ’d better be riding in style. The interior photo, taken from the rear seat looking forward, shows a butterscotch-colored cabin, with stitched leather seats, what appears to be an Alcantara headliner, backseat climate controls with vents in the center console and on the B-pillars and, up front, a large touchscreen framed in an oval-shaped cluster. Aston says the bridged center console offers storage space below for handbags or other large items. ThereÂ’s also a huge, full-length glass roof and broad side windows, and weÂ’re told — but offered no concrete measurements — of class-leading front and rear legroom, and an abundance of space throughout. Aston says it did extensive customer research and carefully consider the ergonomics needs of a broad range of male and female occupants, with more than six months alone dedicated to determining the exact and best position of the driver within the vehicle and a "Female Advisory Board" to help dictate the layout of dashboard controls. Aston also wants us to know that it gave special consideration to backseat passengers and children. The decision to use an all-new platform and its longer wheelbase allowed designers to optimize cabin space while keeping the low roofline. The DBX will produce 542 horspower and 516 pound-feet of torque from the twin-turbo 4.0-liter borrowed from Mercedes-AMG, making it the most powerful version of the engine used in an Aston. Order books open after the reveal later this month.