Aston Martin has been known not only as the prefered auto brand of James Bond, but also as a maker of high-end sports cars packing thirsty V12 engines under the hood.
The wealthy auto buyers of the next decade will be more inclined to buy electric, according to several reports and predictions we've read, because younger people tend to be more open to new and different technologies over and above tech that has been seen and done by dozens of generations past.
Aston Martin is the latest auto maker to announce it's going to move to an all-hybrid lineup.
"We will be 100 percent hybrid by the middle of the 2020s", Palmer told Financial Times in a recent interview.
Luxury vehicle manufacturer Aston Martin Holdings has reported sharply improved first-half and second quarter financial results amid rising global demand for its luxury handcrafted sports cars.
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Understandably, its time frame isn't as short as Volvo's, with CEO Andy Palmer pointing to a mid-2020s date.
Unlike its current AMG-sourced V8s, Palmer admits that the battery and hybrid technology development need to be kept, "inside the company". "We believe that EVs are a core technology, and therefore we want to do them ourselves".
The FT reports this statement means the company will buy battery cells from third-party manufacturers, but will produce battery packs (made up of multiple cells) and motors itself.
Aston Martin is enjoying the benefits of increased global sales on the businesses profit and loss statement. The hybrid will be the Aston Martin Valkyrie hypercar, which is slated to arrive sometime in 2018.
Aston Martin said conversion work is "well underway" at its new plant in South Wales, with production of its DBX SUV model set to begin at the site in 2019.