The luxury carmaker, as synonymous with the roar of a V12 engine as it is with its fictional customer James Bond, will focus on battery vehicles and mild-hybrid cars that combine an electric battery with a petrol engine in its future vehicles.
Aston Martin’s announcement is significant because it’s a high-end luxury performance car maker, however, whose target demographic is precisely motoring enthusiasts. Aston Martin had previously announced plans to launch its first fully electric car, the Rapid-e, by 2019.
The importance of this EV tech was also made clear by Palmer’s confirmation that this electrification has been engineered in-house, rather than outsourced to technical partners like Daimler, as the company did for the V8 that has been recently fitted in the DB11.
Earlier this year, the firm posted a first-quarter profit (£5.9 million) for the first time in a decade, boosted by sales of the DB11. Aston has posted an annual loss since 2011 and sold 3687 cars last year. Insiders predict that figure could rise by as much as 30% this year and Palmer has cited annual sales of around 7000 sports cars. However, he hopes that figure could, in time, be doubled with the DBX, as well as being boosted by the Lagondas.