Aston Martin has postponed its plans to launch its first 100% electric model for a year, justifying this delay with the drop in demand from consumers.
The British company joins a range of companies in the automotive sector that are revising their strategy towards electric mobility, highlighting that it now expects to launch its first electric model in 2026, compared to the initial plan for the 100% electric model to arrive in 2025.
“The consumer demand for 100% electric vehicles in Aston Martin’s price range is not what we thought it would be two years ago,” said CEO Lawrence Stroll on Wednesday during the presentation of the company’s 2023 results.
Stroll also revealed that there is currently “greater demand” for plug-in hybrid vehicles, especially for a company like Aston Martin, as people “want some electrification… but still want the smell, the feel, and the sound of sports cars.”
In addition, Stroll downplayed concerns about competition from Chinese electric vehicle manufacturer BYD, adding that he is satisfied with the battery technology and platforms available to the company.
It should be noted that Aston Martin plans to start production of the Valhalla, the first hybrid supercar from the British brand, this year.
