Aston Martin sues Swiss car dealership over Valkyrie depots Car News

Aston Martin has announced that it will sue a Swiss car dealership and members of its board of directors who the automaker says withheld customer deposits for orders for the Valkyrie supercar.

The British car company has initiated civil proceedings against Nebula Project AG and also asked Swiss prosecutors to investigate the potential criminal behavior of two of the members of the Swiss company’s board of directors. Aston Martin has also terminated its trade agreement with Nebula.

In a statement, Aston Martin said its previous management signed an agreement with Nebula Project in 2016 to support the development of the Valkyrie hypercar and other mid-engined supercars. As part of the deal, Nebula funded the development of the Valkyrie, in return for commission-based royalty payments tied to the car’s production volume of £ 2.5million.

Aston also terminated its dealership agreement with AF Cars AG, which is managed by the same board members as Nebula Project, claiming it has sold vehicles in violation of its dealership agreement. Aston said the missed payments would impact its profits by £ 15million this year.

The Financial Times reported that car dealerships withheld more than £ 10million of cash in deposits for the Valkyrie. Aston Martin added that it was “fully committed” to ensuring that customers receive delivery of their Valkyries as scheduled.

He also said that in the future he will make sure to receive all deposits for special vehicles directly, not through a third party.


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This notice was published: 2021-06-22 08:43:15

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