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Aston Martin’s First Electric Car Planned For 2019

Aston Martin’s First Electric Car Planned For 2019.

“The instantaneous delivery characteristics of electric motors means the RapidE will offer a unique driving experience of a kind not experienced before in an Aston Martin.”

British luxury and storied sportscar maker Aston Martin’s first electric car will have the performance to match a 5.9 liter 470 hp V-12 gasoline engine, but you will have to wait a year longer to drive it than expected and be prepared to pay perhaps $255,000.

Aston Martin confirmed Tuesday that it will produce the RapidE in partnership with Williams Advanced Engineering and it will be based on the Rapid AMR four-door sedan. Aston Martin has cut the original production plan by about a third because original partner LeEco of China withdrew. The original start date has been put back from 2018 to 2019.

Aston Martin said the all electric powertrain will match the Rapide S V-12 performance but gave no details of the RapidE’s technology or range.

“The instantaneous delivery characteristics of electric motors means the RapidE will offer a unique driving experience of a kind not experienced before in an Aston Martin.” The company said.

Anyone who has savoured the delights of a top-of-the-range Tesla S all electric performance in ludicrous mode won’t be surprised to hear that. The question remains, will future versions of the James Bond spy movies use traditional Aston Martins, or electric ones? 

Aston Martin President and CEO Andy Palmer said the company will embrace electric power but expects traditional internal combustion engines to be the core of the product for some time.

“RapidE represents a sustainable future in which Aston Martin’s values of seductive style and supreme performance don’t merely co-exist alongside a new zero-emission powertrain, but are enhanced by it. The internal combustion engine has been at the heart of Aston Martin for more than a century, and will continue to be for years to come. RapidE will showcase Aston Martin’s vision, desire and capability to successfully embrace radical change, delivering a new breed of car that stays true to our ethos and delights our customers,” Palmer said.

After the RapidE, Aston Martin plans an electric version of its DBX SUV

Financially troubled
Financially troubled Aston Martin, owned 37.5% by Italian private equity firm Investindustrial, along with Kuwaiti companies Investment Dar and Adeem Investment and others including Daimler, earned pre-tax profit of £5.9 million ($7.5 million) in the first quarter compared with a £29.7 million ($37.9 million) loss in the same period of 2016. Ford sold Aston Martin in 2007.

The company forecast it will earn £170 million ($217 million) in all of 2017 on an EBITDA basis (earnings before interest, taxes, depreciation and amortization), compared with previous guidance of £165 million ($210 million) and last year’s £101 million ($129 million).

Aston Martin said it benefitted from cost cuts and demand for its new DB11 sports car. The company believes sales in 2017 will jump more than 30% per cent this year from 3,687 cars in 2016. Concept cars include an electric Rapide S. The company is also planning to use its brand to sell yachts, apartments and handbags.

Financial media reports have said Aston Martin may float on the stock market next year. Its value could reach £2.3 billion ($2.9 billion), the reports said.


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