26.02.2025 17:32
The British sports car manufacturer Aston Martin has shelved its first electric vehicle project. The automotive giant, which is cutting costs, will also lay off 170 employees.
The British sports car manufacturer Aston Martin announced its financial results for the last quarter of 2024. Reports revealed that the situation of the British company is not very promising.
WILL LAY OFF 170 EMPLOYEES
Accordingly, the company made a radical decision in the face of sharply increasing financial losses and debts. The automotive giant announced that it would lay off 170 employees, which constitutes 5% of its workforce, to save £25 million.
THEY HAVE POSTPONED THE ELECTRIC VEHICLE PROJECT
Additionally, Aston Martin has decided to postpone its first electric vehicle project. Following the announcement, the company's stock loss exceeded 13%.