(London) Luxury car manufacturer Aston Martin will continue to manufacture thermal models “as long” as legally possible, because the demand is there, assured its president in statements published in the British press on Thursday and confirmed to AFP.
“We will continue to make (gasoline engines) as long as we are allowed to make them. There will always be a demand, even if this demand will decrease,” assured the executive chairman of the board of directors, Lawrence Stroll.
The manufacturer delayed the launch of its first 100% battery-electric vehicle at the start of the year to 2026, against a previous target of 2025. And the first deliveries to customers will have to wait until 2027.
The boss also indicated his intention to invest much more significantly in plug-in hybrid vehicles, which he believes will play a role for longer than initially envisaged, until the mid-2030s according to him.
Aston Martin shares lost 2.68% to 160 pence on Thursday shortly before 6:30 a.m. (Eastern time) on the London Stock Exchange.
Aston Martin announced last month that it had poached Bentley CEO Adrian Hallmark to become its new managing director and support its shift towards ultra-premium. By October he will replace Amedeo Felisa, who arrived in 2022 from Ferrari.
In 2023, Aston Martin halved its loss thanks to a move upmarket towards personalized vehicles and “record” prices. The British manufacturer saw its turnover increase by 18% year-on-year, to 1.6 billion pounds.
Saved from bankruptcy in early 2020 by Canadian billionaire Lawrence Stroll, who became executive chairman, the brand is now seeking to evolve even further towards luxury, even if it is slowing down its shift towards electrification.