ESG Telegraph
  • Home
  • Latest News
  • Environment
  • Companies
  • Investors
  • Governance
  • Markets
  • Social
  • Regulators
  • Sustainable Finance
Featured Posts
    • Markets
    Meme and thematic ETFs surge as inflation fears dip
    • August 15, 2022
    • Latest News
    Thungela to pay bumper dividend as coal price soars
    • August 15, 2022
    • Companies
    European office market faces biggest test since financial crisis
    • August 15, 2022
    • Markets
    Uniper drops coal case as tensions rise over treaty on fossil fuel projects
    • August 15, 2022
    • Latest News
    Stock markets subdued after weaker than expected Chinese data
    • August 15, 2022
Featured Categories
Belarussia
View Posts
Companies
View Posts
Energy
View Posts
Environment
View Posts
Food
View Posts
Governance
View Posts
Health
View Posts
Investors
View Posts
Latest News
View Posts
Markets
View Posts
Potash
View Posts
Regulators
View Posts
Russsia
View Posts
Social
View Posts
Supply Chain
View Posts
Sustainable Finance
View Posts
Technology
View Posts
Uncategorized
View Posts
ESG Telegraph ESG Telegraph
7K
9K
4K
1K
ESG Telegraph ESG Telegraph
  • Home
  • Latest News
  • Environment
  • Companies
  • Investors
  • Governance
  • Markets
  • Social
  • Regulators
  • Sustainable Finance
  • Companies

Aston Martin to phase out combustion engine-only cars by 2026

  • February 1, 2022
  • Staff
Total
0
Shares
0
0
0

Aston Martin plans to sell only electric or hybrid cars within four years, phasing out vehicles that rely solely on the internal combustion engine.

Lawrence Stroll, chair of the luxury carmaker, said the group was “on a journey” and moving “at the pace our customers” want with plans to launch plug-in hybrid models in two years and full electric models by the middle of the decade.

“By 2026 we will be fully electrified,” he told the Financial Times, although customers will still have the option of a combustion engine in its hybrid cars. Unlike rivals such as Bentley, which plans to sell only battery cars by 2030, he has not set a specific date to switch.

Like many brands synonymous with high-performance cars, Aston needs to decarbonise while trying to cater to customers that still want the visceral experience of engine-powered cars.

“I can’t tell you that 100 per cent of Aston Martin customers want an electric vehicle,” Stroll said.

“People still want the smell, the noise [of combustion engine cars]. We’re gradually going to get to full EV, but we will continue offering both [electric and hybrids].

“There will still be an electrification component, but if someone wants an internal combustion engine in 2028, that will happen.”

Part of Stroll’s strategy includes expanding the brand’s line-up from sports cars and its recent DBX sport utility vehicle into Ferrari-rivalling mid-engine supercars.

He added: “By 2025 or 2026, even though we will have every model electrified, front engine, mid-engine, SUV, we will still continue to offer for sale, as long as there’s customer demand, hybrid versions.”

However, the carmaker still has significant models planned that feature combustion engines.

Stroll was speaking while unveiling a more powerful version of its DBX SUV that it hopes will win back customers who switched to Lamborghini’s rival Urus model.

The DBX 707 is powered by a new V8 engine designed by Aston engineers and built by AMG, the brand’s technical partner.

The 707-horsepower car is the first model in the Aston stable to be developed by the team brought in by Stroll since he led the £540mn bailout of the company two years ago, as he tries to stamp his mark on a luxury brand that has struggled to perform financially.

Last month Stroll was forced to defend Tobias Moers, chief executive, after reports he was seeking a replacement following a profits warning and high executive turnover.

The company has been trying to restore its financial fortunes since a 2018 stock market listing failed to raise any fresh cash for the company, which unlike Volkswagen’s Bentley and Lamborghini brands, is not owned by a larger mainstream carmaker.

The new DBX variant would help annual SUV sales rise to about 4,000 from 3,000 currently, Stroll predicted, even accounting for cannibalisation between the two models.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
You May Also Like
Read More
  • Companies

European office market faces biggest test since financial crisis

  • Staff
  • August 15, 2022
Read More
  • Companies

Vanguard active funds suffer bloodiest first-half on record

  • Staff
  • August 15, 2022
Read More
  • Companies

Digital advertising: Apple takes bigger bite of new business

  • Staff
  • August 15, 2022
Read More
  • Companies

Climate and crypto fraught with challenges for regulators 

  • Staff
  • August 15, 2022
Read More
  • Companies

FirstFT: European office market’s big test

  • Staff
  • August 15, 2022
Read More
  • Companies

How female founders are challenging the funding gap

  • Staff
  • August 15, 2022
Read More
  • Companies

UK employers could be forced to pay down pension deficits

  • Staff
  • August 15, 2022
Read More
  • Companies

Afghan roads once menaced by the Taliban are now safer. . . for some

  • Staff
  • August 15, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Featured Posts
  • 1
    Meme and thematic ETFs surge as inflation fears dip
    • August 15, 2022
  • 2
    Thungela to pay bumper dividend as coal price soars
    • August 15, 2022
  • 3
    European office market faces biggest test since financial crisis
    • August 15, 2022
  • 4
    Uniper drops coal case as tensions rise over treaty on fossil fuel projects
    • August 15, 2022
  • 5
    Stock markets subdued after weaker than expected Chinese data
    • August 15, 2022
Recent Posts
  • Vanguard active funds suffer bloodiest first-half on record
    • August 15, 2022
  • Why the Fed might be at ‘neutral’ already on monetary policy
    • August 15, 2022
  • Rio Tinto rebuffed in plan to take control of Mongolia copper project
    • August 15, 2022

Sign Up for Our Newsletters

Subscribe now to our newsletter

ESG Telegraph
  • Home
  • Privacy Policy
  • Guest Post
  • Contact

Input your search keywords and press Enter.