Major car brand's first EV is delayed a YEAR | 2U0T1PZ | 2024-03-01 08:08:01
The posh carmaker stated it should not launch its first battery electrical car (EV) until 2026.
Aston Martin Lagonda has pushed again plans for its first electric automotive by a yr because the group revealed it remained heavily loss-making and missed already-lowered production targets.
The posh carmaker stated it should not launch its first battery electrical car (EV) until 2026.
It had been aiming to launch the primary Aston EV in 2025 after final yr putting a cope with Saudi-backed US luxurious EV maker Lucid.
The move saw Lucid take a three.7% stake in Aston as part of the deal.
Aston revealed the delay to its first EV in annual results that additionally confirmed 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 objective of seven,000.
The group insisted it was on monitor to "considerably obtain" its monetary targets for 2024 because of the launch of two new next-generation sports activities automobiles, though it stated this can be "heavily weighted" to the second half of the yr because of the launch timings.
Its outcomes confirmed it remained within the pink last yr, however narrowed pre-tax losses to £239.eight 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 activities automobiles, together with the lately unveiled Vantage, and the continuation of our specials programmes.
"These and different advancements will help the supply of the corporate's near and medium-term financial targets."
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