Reported about 11 hours ago
Aston Martin announced a 5% reduction in its global workforce to cut costs and delay the launch of its first battery electric vehicle (BEV) for the second time. CEO Adrian Hallmark stated the company's focus will shift towards operational execution and financial sustainability. The company is expected to save £25 million from these job cuts while prioritizing the mid-engine Plug-in Hybrid Electric Vehicle 'Valhalla', which it anticipates will help achieve positive earnings. The planned introduction of the BEV has been moved to the later part of the decade due to prior lack of consumer demand.
Source: YAHOO