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Even lower-volume brands are not exempt from the recent EV slowdown, with Aston Martin announcing that its first fully-electric model has been delayed by a year. It was originally supposed to arrive in 2025, but now it's expected to break cover around 2026.
Aston Martin chairman Lawrence Stroll has made his reasoning clear. "The consumer demand [for EVs], certainly at an Aston Martin price point, is not what we thought it was going to be two years ago," he said to journalists. Stroll says customers would rather have plug-in hybrids, as they retain the "sports car smell and feel and noise."
To better align with consumer interests, Aston Martin will take the time to introduce a slew of hybrid models before it launches its first full EV, starting with the plug-in Valhalla supercar later this year. It will get power from an AMG-sourced hybrid V8, and combined output will be a few horses short of 1,000 hp. "We have addressed that [reduced demand for EVs] and will be coming out with a couple of very important plug-in hybrids before we launch our full BEVs," Stroll said. "So we’ll have a full complement of ICE, PHEV and BEV to last us well into the mid 2030s."
When the first Aston Martin EV does arrive, it will likely borrow some components with Lucid. This comes following a deal made last year in which the Saudi-backed American startup will receive a 3.7% stake in Aston, in return for the brand being able to use Lucid's powertrains in its own future EVs.
The Lagonda Brand Is No More
Meanwhile, Stroll also confirmed that Aston Martin has abandoned its plans to revive the Lagonda badge. While the company has shown off quite a few concepts over the years to preview a new ultra-luxury brand to rival the likes of Bentley and Rolls-Royce, none of that will be making it to public roads. While this isn't the first time Lagonda has experienced cancellations, it is now "completely dead," according to Stroll.
Image Credits: Aston Martin
Report
Mar 9, 2024
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Aston Martin Postpones First EV By One Year, Cancels Lagonda Brand
The abrupt change in plans comes from a lack of customer interest in luxurious EVs.
Even lower-volume brands are not exempt from the recent EV slowdown, with Aston Martin announcing that its first fully-electric model has been delayed by a year. It was originally supposed to arrive in 2025, but now it's expected to break cover around 2026.
Aston Martin chairman Lawrence Stroll has made his reasoning clear. "The consumer demand [for EVs], certainly at an Aston Martin price point, is not what we thought it was going to be two years ago," he said to journalists. Stroll says customers would rather have plug-in hybrids, as they retain the "sports car smell and feel and noise."
To better align with consumer interests, Aston Martin will take the time to introduce a slew of hybrid models before it launches its first full EV, starting with the plug-in Valhalla supercar later this year. It will get power from an AMG-sourced hybrid V8, and combined output will be a few horses short of 1,000 hp. "We have addressed that [reduced demand for EVs] and will be coming out with a couple of very important plug-in hybrids before we launch our full BEVs," Stroll said. "So we’ll have a full complement of ICE, PHEV and BEV to last us well into the mid 2030s."
When the first Aston Martin EV does arrive, it will likely borrow some components with Lucid. This comes following a deal made last year in which the Saudi-backed American startup will receive a 3.7% stake in Aston, in return for the brand being able to use Lucid's powertrains in its own future EVs.
The Lagonda Brand Is No More
Meanwhile, Stroll also confirmed that Aston Martin has abandoned its plans to revive the Lagonda badge. While the company has shown off quite a few concepts over the years to preview a new ultra-luxury brand to rival the likes of Bentley and Rolls-Royce, none of that will be making it to public roads. While this isn't the first time Lagonda has experienced cancellations, it is now "completely dead," according to Stroll.
Image Credits: Aston Martin
