Aston Martin, like all other automakers, is in the transitional period from offering internal combustion engine (ICE) high-performance cars to EVs. The British GT and supercar brand initially promised that they would launch their first EV in 2025, but just recently, Chairman Lawrence Stroll told reporters such as Autocar that the release of its first EV would be pushed back a year later.
This means that the first Aston Martin EV will now be revealed in 2026, but that doesn’t mean they are pulling back on their electrification plans. Aston Martin is in the final testing phases for the Valhalla plug-in hybrid (PHEV) supercar before it finally reaches customers, and it seems that PHEVs will be Aston Martin’s current focus when it comes to electrification. Why did Aston Martin scale down the pace of electrification within their brand, and is this a reflection of the reality of the high-end EV market?
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In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources, including Cox Automotive, The Guardian, Autocar, Autoweek, Auto Motor and Sport.
Why Aston Martin Is Delaying Its EV Plans
Over the past few months, we’ve reported numerous automakers deliberately pushing back their EV release dates or even scaling down production. This is due to EV sales that, as mentioned numerous times, continue to grow, but that pace of growth has slowed down over the past few months. In the United States, 2024 will still be a year when more EVs than ever will be sold, but the rate of growth is expected to be lower than the previous year. Cox Automotive even predicts that 2024 will be the first year when there could even be a quarter-over-quarter sales decline.
UK’s EV Sales Growth Slows Down, Too
In the UK, where Aston Martin is based, the EV market situation is also similar. Fully-year 2023 EV sales in the UK grew to 315,000 vehicles, an increase of 50,000 units, but that growth is also in line with the 1.9 million new cars sold in the UK. Therefore, when viewed in terms of market share, EV sales of 315,000 units represent a slight decline in overall market share to 16.5 percent versus 16.6 percent. This is why automakers in the UK are calling for the government to a VAT cut to spur EV sales growth.
Aston Martin Chairman Lawrence Stroll told Autocar that consumer demand for EVs is not what it initially thought it was two years ago when the plans were first outlined. Stroll also confirmed that Aston Martin has designed four EVs already, but he didn’t tell the publication what these EVs are and whether they will be direct replacements for its current lineup.
“We believe that the consumer demand is not at the pace that analysts and politicians thought. We also do believe it will be there in the future; it’s not going away. We just think there’s a slight delay to the project.”
What We Know So Far About Aston Martin’s EVs
As these EV plans are pushed back, what is the current progress that Aston Martin has made so far on its EVs? As mentioned, they’ve already developed four EVs at the moment. The first of those four EVs would be a “high-riding, four-wheel drive electric GT”, while the remaining three EVs are still shrouded in secrecy.
What’s also confirmed is that Aston Martin’s EVs will come with powertrains and batteries supplied by Lucid–a deal that is worth more than $450 million. It is a first-of-its-kind relationship by Lucid with another automaker as it starts to diversify itself from being not just an automaker, but an EV components supplier as well. Lawrence Stroll says concerning the Lucid partnership:
“The supply agreement with Lucid is a game changer for the future EV-led growth of Aston Martin. Based on our strategy and requirements, we selected Lucid, gaining access to the industry’s highest performance and most innovative technologies for our future BEV products.”
We also know that thanks to the technical partnership with Lucid, this won’t be a one-time, big-time thing for Aston Martin’s EV direction. Just like its relationship with AMG, Aston Martin’s partnership with Lucid will also be for the long term.
Lucid-sourced twin-motor units will power the rear axle of its EVs, while Aston Martin will use a third electric motor it developed themselves. This internally developed electric motor is what powers the Valhalla’s front axle, but the EV powertrain can be scaled to a quad-motor setup with more than 1,500 horsepower if desired.
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PHEVs Will Maintain An Aston Martin’s Soul
While we don’t know in terms of raw numbers what EV sales are in the high-end segment, since EV sales are bundled together, whether it’s a premium Tesla or an affordable Renault, Lawrence Stroll says that PHEV powertrains will serve as a bridge technology before going all electric. The first of these PHEVs will be the Valhalla mid-engined supercar, and it’s a vehicle that the executive perceives to be what customers actually want right now.
Electric When Needed, Vocal When Wanted
The Aston Martin Valhalla consists of a Mercedes-AMG-sourced 4.0-liter twin-turbo V-8 that’s mated to two electric motors. The plug-in hybrid system has a total output of 937 horses, and a curb weight of just 3,417 pounds, and it will come with an eight-speed Graziano-sourced dual-clutch transmission. The electrical system of the PHEV is a Rimac-sourced KERS hybrid battery system, while as mentioned a while ago, the electric motors in the Valhalla were developed by Aston Martin themselves.
It’s What Aston Martin Perceives Its Customers Want
An electric hypercar is cool and all, but not everyone wants to blast through a racetrack without the noise of an ICE. The Valhalla, being a 4.0-liter twin-turbo V-8 PHEV supercar is the best of both worlds, blending the silence of an electric motor in cities and localities with the howling noise that only an ICE-powered supercar can achieve. Lawrence Stroll told Autocar that this is what the company thinks is what customers desire at the moment.
“What we are feeling is that there are people who still want some electrification to drive around in the city for five, 10 or 15 miles on electric power but still have the sports car smell, feel and noise when you get out onto the autoroute. That’s why we think hybrid [technology] is going to have a very long life, particularly for a company like us: it’s about delivering thrills and excitement to the driving experience.”
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Other High-End Automakers Have Similar Sentiments
Aston Martin delaying its EV plans isn’t unique to the British GT manufacturer. The current market situation–particularly in the premium EV segment, is also reflected by these two companies who have recently deliberately delayed their EV release date timelines.
Ineos Isn’t A Fan Of The UK Favoring Just EVs
Just recently, Ineos unveiled a smaller, more compact member of its growing rugged SUV range. The new Ineos Fusilier, which was intended to be sold just as an EV, now comes as a range extender EV (REx). The company’s decision to release a REx version alongside the EV version was a late call, says Ineos Automotive CEO Lynn Calder to Autocar. The decision to create a REx version was made only a couple of months ago as a response to stalling demand for EVs across the UK and Europe. Calder said during the launch of the Ineos Fusilier:
“We were swayed by the turn of the tide and buyers voting with their feet. We recognize not all buyers want EVs; there’s a use case for them for sure, but we wouldn’t be surprised if it ended up at 25-20% [of the market] rather than 100%.”
Ineos Automotive founder Sir Jim Ratcliffe also used the Fusilier launch event to call on UK and EU legislators to keep an open mind to other powertrain types beyond EVs. Rather than bet everything on EVs, there should be a wider goal of reducing carbon emissions through whatever means, thus giving customers a choice that fits their lifestyle and financial needs. Ratcliffe says:
“Consumers should have a choice. We can’t force them. At the moment, they’re voting with their feet and not buying [EVs].”
Audi’s Electric A8 Replacement Also Pushed Back
Audi also sees a similar situation, because citing slower EV sales growth as well as continued sales popularity for large ICE-powered cars in China, the A8 won’t be discontinued this year in favor of its electric successor. Surprisingly, even though China is an EV hotspot, sales of high-end large ICE cars, which also include the A8, remain popular.
This is why an Audi spokesperson told the German publication Auto Motor and Sport that the electric A8 successor is pushed back to 2027. What does this mean for the current A8, which has now been on sale since 2017? Well, the large luxury sedan will be given another facelift, similar to what they did to the Q7.
