business

The gas engine still has a long life to live, says the CEO of Aston Martin

The gas engine still has a long life to live, says the CEO of Aston Martin

The reported death of the internal combustion engine (ICE) is greatly exaggerated, told the CEO of Aston Martin to CNBC Wednesday.

Palmer said politicians were trying to dictate solutions for car manufacturers, but instead they should highlight problems that need to be resolved.

"As far as I know, politicians are not so good at science," he added.

After years of losses and various bankruptcies, the British manufacturer of luxury sports cars achieved a profit before tax for 2017 of £ 87 million ($ 114 million) for the full year. In October this year, the company went public, initially choosing its shares at £ 19 each, giving it a market capitalization at £ 4.33 billion.

Palmer said Wednesday that America now accounted for about 20 percent of Aston Martin's sales and the US now surpasses the UK to become the largest country market.

The CEO added that he "no longer wanted to see the automatic car rates from cars in Europe or the United Kingdom", but President Trump had mixed news about where his protectionist policy might end up.

.

Post Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.