Mexican Media Brands
Aston Martin Trims EV Project
Aston Martin Lagonda Ltd. tells Reuters it will cut production plans for its all-electric RapidE luxury sedan by two-thirds after Chinese internet giant LeEco dropped out of the project.
#hybrid
Share
Aston Martin Lagonda Ltd. tells Reuters it will cut production plans for its all-electric RapidE luxury sedan by two-thirds after Chinese internet giant LeEco dropped out of the project.
CEO Andy Palmer says Aston Martin now will fund the program itself and build only 155 of the cars—about one-third the original volume. The RapidE (pictured) will retail for £200,000 ($254,400), making it one-third more expensive than the piston-powered Rapide S from which it is derived.
Aston Martin and LeEco (Leshi Internet Information & Technology Corp.) announced in February 2016 they would collaborate to create the EV. The companies also planned to eventually collaborate on EVs for LeEco’s Faraday Future Inc. startup in California.
But last November LeEco founder/CEO Jia Yueting acknowledged his company had over-expanded and was running out of cash. Earlier this year LeEco slashed plans to build a $1.3 billion EV factory for Faraday in Nevada and sharply reduced the brand’s planned model lineup and production targets. Jia stepped down as LeEco's CEO last month.
RELATED CONTENT
-
What the VW ID. BUGGY Indicates
Volkswagen will be presenting a concept, the ID. BUGGY, a contemporary take on a dune buggy, based on the MEB electric platform that the company will be using for a wide array of production vehicles, at the International Geneva Motor Show.
-
On Military Trucks, Euro Car Sales, Mazda Drops and More
Did you know Mack is making military dump trucks from commercial vehicles or that Ford tied with Daimler in Euro vehicle sales or the Mazda6 is soon to be a thing of the past or Alexa can be more readily integrated or about Honda’s new EV strategy? All that and more are found here.
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.