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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.

Here's what else you could buy for the average new-car price of $40,573

Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. The average price of a new car in America hit a new record in December 2020: $40,573. Not that we're surprised — the average has been over $35,000 for the past few years — but seeing that baseline figure crest 40 large is still a sticker-shock to the system. So, as we do every once in a while, we put our collective heads together and came up with a list of alternatives that you could choose to buy for that sum, new or old, classic or practical. Now, let's be crystal clear about one thing here. We're not actually recommending you make this type of decision. That said, we wouldn't blame you if you did. Managing Editor Greg Rasa: $40,000 will buy a fully loaded Camry or moderately equipped crossover. Or, for $39,997, to be exact, one could go motoring in a fine British automobile. This 2006 Aston Martin DB9 Volante in Alabama has 21,452 miles on it, and depreciation has worked its cruel magic: It is listed for less than one-quarter of its $168,000 starting MSRP when it was new. A check of other used DB9s nationwide indicates this is a fair price. This Aston's CarFax reveals two owners. (One, really, as the second was a dealership. Looks like it got traded in for a Porsche.) If you're understandably concerned about reliability, its service history indicates no surprises to date. Remember, it has a 450-horsepower 5.9-liter V12. And spring is coming. Of course a used Aston Martin is riskier than a new Camry. But as Louis Prima sang, "Enjoy yourself, it's later than you think." What price beauty? Less than $40 grand. Associate Editor Byron Hurd: This price point opens up a ton of options in the "nearly new" luxury space, including a few good enthusiast picks, but my nod here goes to the Cadillac ATS-V. The discontinued, M3/M4-rivaling, 465-horsepower sport sedan and coupe can be had all day long in this price range with low miles. In fact, the real challenge is finding one in the spec you want, since it's one of those old-fashioned cars that actually presented the buyer with choices. Here's a clean, six-speed sedan in an actual color for less than our target price, for example. Coupes are more plentiful than sedans, especially in interesting colors, but there are plenty of them out there.

'Sylvan Rock' by Aston Martin could be your home for $7.7 million

Aston Martin is known for some of the most gorgeous automotive designs ever produced, but occasionally it lends that expertise to other items. Sylvan Rock, a 55-acre luxury residential resort to be constructed in New York's Hudson Valley in partnership with New York's S3 Architecture, is one such venture. It's also Aston Martin's first collaboration in the design of a private home. Sylvan Rock will be built about 80 miles north of New York City, near Rhinebeck. Calling it a house is underselling it; even the property's own website refers to it as a "compound." It comprises a nearly 6,000-square foot primary residence, three guest "pods," a pool, pool house, tree house and garden. Oh, and yes, there's a three-car garage, but that's not what really sells Sylvan Rock as a driver's home.  "Driving down a bucolic country road, enjoying the curves in the road, you arrive at an unassuming gatehouse entrance to the private driveway. Along the driveway, the property unfolds onto a secluded luxury retreat," the promotional material enthuses. Sounds like a nice little spot, doesn't it? That's straight from the description on the property web site, which is linked above. It has detailed plans and a much larger gallery of rendered images. Here are the quick specs: Residence | 5,983 SF 4 bedrooms, 4 bathrooms, 2 half baths 3 car garage Pool and deck Pool House | 873 SF Three Guest House “Pods” | 1,574 SF Treehouse - Architect designed Food Garden and Trails Total finished spaces in compound: 8,430 SF If you can part with a cool $7.7 million, it could be your new home away from your 17 other homes, provided you can wait until 2022, when construction will be finished. Oh, and if you have another couple hundred grand burning a hole in your pocket, Aston Martin will even throw in a new DBX in matching Onyx Black. Honestly, if you can flash the cash, I'm sure they'll sell you as many cars as you want — or, you know, shares. They'll even throw in a picnic basket for free. Yes, that last part is real.  Featured Gallery Aston Martin Sylvan Rock View 9 Photos Auto News Design/Style Marketing/Advertising Aston Martin Luxury