Aston Martin declares record Half Year PROFIT as revenue DOUBLES

Aston Martin declares record Half Year PROFIT as revenue DOUBLES

Aston Martin declares record Half Year PROFIT as revenue DOUBLES

Aston Martin CEO, Andy Palmer, said, "We will be 100 percent hybrid by the middle of the 2020s", while speaking with the Financial Times. Whereas these will both be exclusive, low number runs, plans of a DBX crossover are also in the works, and it will offer hybrid and electric options on a larger scale. A year later, Aston Martin will introduce a pure electric version of its Rapide sedan. Following the trend of many of its competitors, Aston will begin to shift towards hybrid technology in the next few years, and be completely hybrid by the mid-2020s.

With £ 410.4 million in pre-tax profits in the first six months of the year (up from 211.8 million last year), Aston Martin is clearly back in the green. The outlet notes that 25 percent of all Aston Martins will be fully electric "by the end of the next decade". Our improving performance reflects rising demand for our new DB11 model, as well as for special edition vehicles and the ongoing benefits from our Second Century transformation plan.

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Aston Martin's first regular production hybrid and electric cars will be variants of the DBX SUV entering production in 2019.

Alongside the confirmation of Aston Martin's dedication to hybrid powertrains, Palmer also let slip about a new mid-engined Ferrari 488 rival that is now in development.

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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.

Aston Martin is the latest automaker to commit to an all-electrified lineup, following the lead of Volvo which said in July that every vehicle in its lineup will have some form of electrification by 2019. It would also help the auto escape punitive taxes in countries where taxation is based on engine size, one of which is China.

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