The British sportscar maker Aston Martin has further delayed its first battery electric vehicle, as it announced plans to cut 170 jobs – 5% of its global workforce – in the latest step in its quest for profits.
The former boss of the British luxury car brand Bentley is the latest person appointed to try to make Aston Martin financially sustainable, five years after it was taken over in 2020 by the Yew Tree consortium, led by the US billionaire Lawrence Stroll.
Aston Martin appointed Adrian Hallmark as its chief executive last year, making him the fifth boss in five years.
The chief executive said that Aston Martin was hit by “external challenges”, particularly at the end of the year when supplier problems affected production.
It is the latest delay in the electric plans for Aston Martin, famed as the car driven by James Bond in the British spy films.
