Aston Martin delays launch of its first battery EV by a year
Aston Martin delays launch of its first battery EV by a year
The British luxury company Aston Martin postponed its plans to release its first battery-electric vehicle by a year on Wednesday.
The London-listed company stated that, contrary to its initial expectations, it will now launch the battery-electric automobile in 2026.
To support its electrification goal, the British company struck a supply agreement with Lucid Group, which is supported by Saudi Arabia, in June of last year.
"With Aston Martin's technical partnerships now in place, the Company's first battery electric vehicle (BEV) is now targeted for launch in 2026, benefitting from the very best high-performance technologies available," the business stated.
Mercedes-Benz promised investors that it will continue to improve its combustion engine models when it postponed its electrification objective by five years earlier this month.
While suppliers and automakers are placing bets on the potential demand for electric vehicles in the future, investment in capacity and technological advancement has surpassed the actual demand for EVs, forcing automakers to reevaluate their production schedules.
Over the following five years, Aston Martin invested 2 billion pounds ($2.53 billion) in cutting-edge technologies, with its investment spanning using BEV technology instead of internal combustion engines (ICE).
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