Aston Martin boss warns electric vehicle ‘hype’ is becoming bad for business
Luxury carmaker Aston Martin has rebuffed the electric vehicle “hype” after lapsing profits indicated a lack of appetite for the cleaner vehicles.
The boss of the British car brand, Lawrence Stroll warned that politics can’t drive consumer demand for EVs.
The carmaker recently delayed the launch of its own EV model after falling profits showed a lack of interest from consumers who still favour fuel-based cars.
Aston Martin is not the only manufacturer to push back against the EV rush, both Mercedes and Renault have also been vocal about the impact electric cars is having on the industry.
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Aston Martin delayed plans to launch its EV in 2025
ASTON MARTIN
Speaking to Autocar, Stroll said: “We planned to launch at the end of 2025 and were ready to do so, but it seems there is a lot more hype in EVs, politically driven or whatever, than consumer demand, particularly at an Aston Martin price point.”
The brand noted that having listened to feedback from both consumers and other carmakers, the drive to create an EV at the pace the UK Government is demanding, “is just not happening”.
The resistant follows on from the Government’s ambitious plans to have 80 per cent of new cars and 70 per cent of new vans sold be zero emission by 2030, increasing to 100 per cent by 2035.
However, manufacturers have criticised the quick pace which the Government is requiring as at least 22 per cent on new cars built this year will need to be EV compliant in order for the country to remain on track.
Under the plans, carmakers who sell and produce in the UK could risk fines for not complying with the new net zero rules including £15,000 per car and £9,000 per van if they are short of the target.
The steep fines have forced brands to ramp up their EV productions, while others have warned that fearmongering will still not force customers to make the switch.
Talking to The Telegraph, Stroll added: “Do I ultimately think we all get there? Yes. Do I think it’s going to happen as initially planned? Most definitely not.”
“Obviously, legislation was premature. We don’t have the charging abilities put in place to deliver the initial time expectations, nor the demand.”
He continued: “So you know, politically you cannot drive consumer demand. Let me put it like that.
“Consumer demand will be what consumer demand is and that does not necessarily, as proven in this, follow legislation.”
The delay of the Valhalla hybrid model by Aston Martin marked a significant shift in the company’s plans as it was expected to hit stores by the end of the year.
The first-of-its-kind model by the brand would have sparked the beginning of the company’s journey towards net zero having previously announced plans to unveil its all electric car next year.
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Aston Martin hoped to be fully electric by 2030
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Aston Martin had previously revealed that by 2026 it hoped to have all new Aston Martin model lines feature an electrified powertrain option and be fully electrified by 2030.
