Aston Martin to expand presence in China market

Aston Martin Lagonda is expected to deepen its commitment to China with a larger supply of its latest models and closer cooperation with local partners, a senior executive at the British luxury carmaker said.

China is one of the fastest-growing markets for the company. Last year, Aston Martin's sales grew 31 percent from 2017, making it among the most-sold luxury car brands on the market in China.

"China is an incredibly important market to us... both now and in the future," said Marek Reichman, the company's executive vice-president and chief creative officer.

He said it is therefore vital for the company to establish more of its future products here in China, where electric vehicle sales are growing fast.

Reichman made his remarks during the Shanghai auto show, which kicked of on Tuesday.

Several high-profile luxury models from the company, including electric vehicle Rapid E, made their Asian or even global debuts.

China is the world's largest new energy vehicle market, with sales of electric vehicles and plug-in hybrids expected to total 1.6 million this year. That's up from 1.2 million in 2018.

The company said Rapid E represents a pioneering first step towards the company's goal of adding more electric vehicles to the market.

By the mid-2020s, Aston Martin will offer hybrid solutions for all of its cars, said Reichman, adding that it's important to offer customers a wide variety of choices.

Lagonda's all-terrain concept SUV and the AM-RB 003 also made their Asian premieres last week, following their global debuts last month in Geneva, Switzerland.

The AM-RB 003 is the first look at what is slated to become Aston Martin's third mid-engine hypercar incorporating F1TM technologies.

The carmaker said it received orders for the model on the first day of its debut Tuesday in Shanghai.

The Lagonda SUV showcases the brand's unique design while also providing a look into the brand's models of the future. The production version of the SUV will be available globally in late 2022, Reichman said.

The DBX, the company's first SUV, will come out later this year. Sales of that vehicle are expected to boost Aston Martin's revenue figures in China.

"(China) will become one of the most important markets for the DBX because it's such a big SUV market," Reichman said.

The new model is one of several new product launches slated for the carmaker's second century plan. Announced in 2015, the plan laid out new product development ideas that will drive Aston Martin's growth in the future.

Models like the DBX and Lagonda SUV will also help the carmaker expand its dealership network in the country.

Aston Martin has seen an expansion in its sales network in China as part of its trade and investment plan of 620 million pounds ($808.9 million) announced in early 2018.

The plan goes beyond sales networking in its benefit to China. Aston Martin has also built a design and innovation partnership with Tongji University in Shanghai and unveiled its first global brand center in China.

"The Chinese market continues to be strong for us as we see the benefits of the investments we made to strengthen our brand and our sales infrastructure throughout the region," Reichman said.

Aston Martin is also working with local art brands, including Shang-Xia, established by designer Jiang Qiong'er, and French luxury group Herm��s on luxury product innovation and design.

Reichman said as the company continues to grow its presence in China and better understands local customers, the country will have a larger role in contributing to Aston Martin's global brand.

"I have no doubt that China will be number two or number one within our market segmentation," he said.

lifusheng@chinadaily.com.cn

(China Daily 04/19/2019 page9)