Aston Martin back in the black in 2017

Aston Martin Recorded A Profit For The Third Quarter In A Row

Aston Martin back in the black in 2017

According to the FT, the Aston announcement isn't quite the same as this - hybrid powertrains will be optional on every model but non-hybrid cars will continue on sale.

However, for a low-volume manufacturer of exotic sports cars, Aston Martin's commitment to electrification is much more profound.

Volvo recently announced that within the next few years all of its models will be electrified and now Aston Martin has made a similar announcement.

Further out, Aston Martin plans to offer an increasing number of pure electric cars.

Aston Martin's CEO told the Financial Times that the company "will be 100 percent hybrid by the middle of the 2020s".

The first Aston Martin EV is already under development - an all-electric version of the Rapide called the RapidE will launch in 2019.

"Our improving performance reflects rising demand for our new DB11 model, as well as for special edition vehicles and the ongoing benefits from our Second Century transformation plan".

Palmer also told the FT that Aston Martin will develop its electric motor technology internally, rather than borrowing it from technical partner Mercedes-Benz (which now supplies the company with some electronics as well as a V8 engine).

Aston is looking to electrification as more and more European countries aim to ban non-hybrid cars in the decades to come. Now also appears to be a good time to be a British vehicle maker looking to expand an EV lineup; the United Kingdom government has been helping several firms with grants to encourage low-carbon technologies. Part of the reasoning being displacement-based laws that would prevent the company from selling the supercar in markets like China without having to pay a hefty tax.

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