Aston Martin reportedly axes EV and weighs Geely deal after tough 2019

Aston Martin, facing cashflow issues, is reportedly axing plans to make an electric sedan and in talks with Chinese behemoth Geely over a potential investment. The British sports car-maker has been courting finance after warning investors of lower sales than were initially predicted for 2019.

“From a trading perspective, 2019 has been a very disappointing year,” Dr Andy Palmer, President and Group CEO of Aston Martin Lagonda, conceded today. “Whilst retails have grown by 12-percent, our best result since 2007, our underlying performance will fail to deliver the profits we planned, despite a reduction in dealer stock levels.”

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