Aston Martin bosses have announced that the British luxury carmaker will move into the electric car market as part of an effort to restructure and rebalance the company.
It’s not known exactly what, if any, plans Aston Martin has for a range of new electric or hybrid models, but the marque said that it’s also due to move into the crossover market with the DBX.
Unveiled in Geneva earlier this year, the firm announced that the DBX crossover concept will reach production following £200 million worth of investment into new Aston Martin models.
In a statement, the company said it will “develop significant new luxury models that will drive the future of the company under its strategic business plan.”
It added: “Under the plan, the company will expand into the luxury GT crossover market with the introduction of a new vehicle based on the DBX concept.”
However, the marque’s chief executive, Andy Palmer, warned that the plans to reinvigorate Aston Martin’s sales will also bring a number of job losses as part of the streamlining process.
Due to the fact that Aston remains an independent manufacturer untied to any wider group has meant that it suffered a loss of £25.4m in 2013, with it unexpected to make profit until next year.
A spokesman for the company said yesterday that “there will be a net reduction in the overall workforce at the company,” and added that the cuts would be “meaningful”, but gave no figures.
The spokesman made sure to stress that the cuts will have no effect on production staff, but will instead come from office and administration workers to fund its model expansion plans.
“This about driving efficiencies and making sure we are a company of the right size,” the spokesperson added.
