Major car brand’s first EV is delayed a YEAR | 626P45G | 2024-03-02 08:08:01
Major car brand's first EV is delayed a YEAR | 626P45G | 2024-03-02 08:08:01
The posh carmaker stated it's going to not launch its first battery
Aston Martin Lagonda has pushed again plans for its first electrical automotive by a yr as the group revealed it remained heavily loss-making and missed already-lowered production targets.
The posh carmaker stated it's going to not launch its first battery electric vehicle (EV) till 2026.
It had been aiming to launch the first Aston EV in 2025 after last yr putting a cope with Saudi-backed US luxury EV maker Lucid.
The transfer noticed Lucid take a 3.7% stake in Aston as part of the deal.
Aston revealed the delay to its first EV in annual results that additionally showed it did not match recently-cut manufacturing targets for 2023.
The group reported 6,620 deliveries of automobiles to sellers final yr, under the 6,700 goal that was revised down in November as a consequence of issues ramping up production for its new DB12 sports mannequin.
It had initially been eyeing a manufacturing aim of seven,000.
The group insisted it was on monitor to "substantially obtain" its monetary targets for 2024 because of the launch of two new next-generation sports activities automobiles, though it stated this might be "closely weighted" to the second half of the yr because of the launch timings.
Its results confirmed it remained within the pink last yr, but narrowed pre-tax losses to £239.8 million from losses of £495 million in 2022.
Group government chairman Lawrence Stroll – the Canadian billionaire who part-owns Aston Martin and in addition owns the Aston Martin F1 group – stated: "Looking forward to 2024, I'm excited by the longer term improvement of our product portfolio with the completion of our line-up of subsequent era, front-engine sports automobiles, including the lately unveiled Vantage, and the continuation of our specials programmes.
"These and other advancements will help the supply of the company's near and medium-term financial targets."
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