Aston Martin sues Swiss car dealer over Valkyrie deposits

Aston is suing Nebula Project over Valkyrie deposits worth £15m that were allegedly taken from customers but not passed on to the parent company.

Aston Martin Valkyrie

A dispute over deposits for Aston Martin’s Valkyrie hypercar looks to be heading to court after the British company opened legal proceedings against Swiss dealer Nebula Project. Aston Martin accuses the dealer of withholding deposits taken for the £2.5m, V12 machine after the pair entered into a contract in 2016.

Under the agreement, Nebula would help finance the development of the Valkyrie by finding customers and would receive commission on any sales. It took a number of deposits for cars that Aston Martin says it has not received. 

The manufacturer has now terminated its relationship with Nebula Project but insists that it is committed to working with the affected customers to make sure they still get their cars on time. Aston Martin has also ended its relationship with a number of other companies in Switzerland linked to Nebula Project, including the operators of the Aston Martin St. Gallen dealership.

In a statement to the Stock Exchange, Aston Martin says that the episode is expected to cost the company in the region of £15 million in profits but that it is still on target to reach 10,000 sales and £500m in pre-tax profits by 2025. Since it signed the deal with Nebula in 2016, Aston has received investment from Mercedes-Benz further strengthening its technical partnership, while Lawrence Stroll has taken a majority share in the business, appointing himself as Executive Chairman and replacing Dr Andy Palmer with former AMG CEO Tobias Moers. Between them Project horizon has been created, built around expanding the DBX GT and sportscar families, committing to the mid-engined Valhalla and Vanquish supercars as well as focusing the company on an electric future beyond 2025.

Around 200 examples of the Aston Martin Valkyrie are scheduled to be built with all having already found owners, but this groundbreaking halo car will still be central to the brand’s profile and future growth. A technological tour de force with a Cosworth-developed 6.5-litre V12 revving to an incredible 10,500rpm, the car generates a total of 1,160bhp with KERS-style hybrid assistance. Although delayed by the COVID pandemic, the first Valkyrie deliveries are expected before the end of this year.   

Recommended

Aston Martin Valkyrie 2023 review: a new realm of hypercar performance
Aston Martin Valkyrie
Reviews

Aston Martin Valkyrie 2023 review: a new realm of hypercar performance

Aston’s Newey-designed hypercar is ready at last. Is it the best thing ever to wear number plates, or too uncompromising for its own good?
9 Jun 2023

Most Popular

Hyundai i30 N and i20 N axed
Hyundai i30 N and i20 N
News

Hyundai i30 N and i20 N axed

Production of petrol-powered Hyundai N hot hatches has come to an end in Europe, with electric N models picking up the baton
23 Feb 2024
Best performance SUVs
Best SUVs 2024
Best cars

Best performance SUVs

The best hot SUVs have started to develop entertaining dynamic characters all of their own, even if we'd rather drive an equivalent fast estate...
23 Feb 2024
Ferrari Purosangue v Aston Martin DBX707 – car pictures of the week
Ferrari Purosangue v Aston Martin DBX707 – twin
Features

Ferrari Purosangue v Aston Martin DBX707 – car pictures of the week

In the latest issue of evo, we pit Ferrari’s Purosangue against the Aston Martin DBX707 – here are some of our favourite shots…
25 Feb 2024