Aston Martin Seeking A Chinese Partner For Future EVs

Industry News

Question is, why does it need a partner in the first place?

It’s not easy to break into the world’s largest EV market, but Aston Martin fully intends to try. That market would be China, but instead of building EVs with an Aston Martin badge in the country itself, the goal is to find a collaborate partner. Automotive News reports that Aston Martin CEO Dr. Andy Palmer is “seeking a Chinese partner to share its lightweight materials and aerodynamic technologies with” as the country continues to improve the performance of EVs.

Turns out Palmer is already having discussions with established Chinese automakers, suppliers, such as battery maker Contemporary Amperex Technology (CATL), and other start-ups. At the moment Aston Martin does not have an EV, but that will change once the RapidE electric sedan goes on sale next year. However, it will be limited to a mere 155 examples. That’s nothing compared to what Aston Martin has planned long-term. It has already stated its goal to have EVs account for 25 percent of its sales by 2030, while the remaining 75 percent of vehicles will be hybrids. You may be asking yourself right about now why can’t Aston Martin develop EV technologies on its own?

You Might Also Like
Weird Wheel Designs You Won't Believe
Weird Wheel Designs You Won't Believe
Cool Cars That Died Too Young
Cool Cars That Died Too Young

Why does it need a partner? The answer is that Aston Martin does not have a major parent company to rely upon for R&D funds. At the moment, Aston Martin is privately held, though it is said to be considering an IPO but that has yet to be finalized. Just last week Aston Martin announced a massive five-year trade and investment deal with China worth more than $850 million. The goal of that deal, quite obviously, is to expand into the world’s largest automotive market. Last year saw fantastic brand growth, 89 percent to be precise, due in large part to the new DB11. This year the all-new Vantage will go on sale worldwide and will surely be a solid source of profit.

Gallery

7
PHOTOS

What's Hot

Related Cars

Starting MSRP
$204,950
Starting MSRP
$149,995
Starting MSRP
$198,995

Related Reviews

2019 Aston Martin Vantage First Look Review: A Huge Step Forward
First Look
9
2019 Aston Martin Vantage First Look Review: A Huge Step Forward
2018 Aston Martin Vantage Review
Model Overview
0
2018 Aston Martin Vantage Review
2019 Aston Martin Vantage Test Drive Review: Sharp-Dressed British Muscle Car Shapes Up
Test Drive
12
2019 Aston Martin Vantage Test Drive Review: Sharp-Dressed British Muscle Car Shapes Up
2019 Aston Martin DB11 Test Drive Review: Making You Cool, Even If You're Not
Test Drive
14
2019 Aston Martin DB11 Test Drive Review: Making You Cool, Even If You're Not
2018 Aston Martin DB11 AMR Test Drive Review: 'Grown-Up' DB11 Shows Its Wild Side
Test Drive
1
2018 Aston Martin DB11 AMR Test Drive Review: 'Grown-Up' DB11 Shows Its Wild Side