Aston Martin’s Survival Could Fall on the Shoulders of Other Automakers
New partnerships could help build the niche British carmaker’s economic revivalby Amreetam Basu, on LISTEN 03:19
Aston Martin is likely planning to tie up with Rimac, Mercedes-Benz, and Lucid Motors for its upcoming new EV. This news has spun up because of the company’s latest announcement on its $781 million investments, a part of which is meant to ramp up the electrification journey. Undoubtedly, Aston fell on its face several times because of financial troubles, but this time, the carmaker is trying to bury the past with new investments, and its first EV will reportedly launch in 2025.
The name Aston Martin cannot go unidentified in the realm of high-performance luxury cars, be it the favorite ride of the protagonist James Bond or the company’s history of becoming bankrupt. In May 2022, Aston’s financial reports suggested that the company had registered a net loss of $57.1 million, excluding net debt of $1.1 billion. So 2022 wasn’t the best year for the iconic British carmaker until July 15. Then, the company announced its new investment blueprint, which would help debt paybacks, gain profits, and push its electrification plans to reality.
All of these are possible because of the $93 million investment made by Saudi Arabia’s Public Investment Fund, which makes it the second-largest stakeholder of Aston Martin. In addition, the Public Investment Fund is one of the most prominent investors of McLaren and Lucid Motors. With the PIF holding 16.7-percent of Aston, Mercedes has plans to boost its investments by the end of 2022.
In March 2021, Aston’s boss, Lawrence Stroll, confirmed that there would be an electric SUV and an electric sports car to launch sometime in 2025. But, a PHEV DBX is on the line before the EV takeover and is expected to debut in 2024. Moreover, the company has already clarified that future Aston Martin cars won’t be made in Germany, but in the UK itself. A tie-up with a battery manufacturing company, Britishvolt, will make things easier for Aston to pack high-performance batteries for sustained on-track performance, charging time, and the overall range.
For the time being, there is no information available about the platform that would underpin the company’s first electric vehicle. However, our wild guess would be the upcoming AMG.EA platform, which brings a cell-to-chassis design that integrates the battery pack with the chassis for a lower center of gravity. Stroll has stated three names - Mercedes-Benz, Rimac, and Lucid Motors - for developing its first EV platform.
Aston Martins have been using Mercedes-AMG V-8s and V-12s for a long time, and the Stuttgart-based automaker is also killing it in the EV department. So the partnership for the electric components is not surprising. It would be interesting to see how Aston and the potential EV partners collaborate in the future. Stroll also mentioned strengthening the in-house EV development: “electrification isn’t just about batteries and motors. There’s so much more to it, and as our development transitions to electrification, then we plan to build up our own capabilities, too.”