Aston Martin, the renowned British sports car manufacturer, has further postponed the launch of its first battery electric vehicle and announced plans to cut 170 jobs, representing 5% of its global workforce. This move is part of the company’s ongoing strategy to achieve profitability. In a statement released on Wednesday, Aston Martin prioritized plug-in hybrid cars, which combine a small battery with a petrol engine, and stated that the first electric model will not be available until the latter part of this decade. This delay marks another setback for Aston Martin’s electric vehicle plans, having previously failed to showcase an electric car in the latest James Bond film, “No Time to Die,” and having already delayed the launch of its first electric vehicle from 2025 to 2026. As the automotive industry worldwide grapples with the transition to electric vehicles, carmakers have slowed their efforts despite the growing market. Stellantis, among them, emphasized giving customers the freedom to choose between internal combustion engine, electric, and hybrid technologies, but its recent financial struggles have led to the resignation of its CEO and a swing to a loss. Meanwhile, Aston Martin’s CEO, Adrian Hallmark, cited external challenges as reasons for the company’s losses, which have risen by 20% to £289 million in 2024, and justified job cuts as necessary to adjust supply with demand.

Source: https://www.theguardian.com/business/2025/feb/26/aston-martin-delays-first-battery-electric-vehicle-again-and-plans-job-cuts