Aston Martin faces a lawsuit over the development of Valkyrie hypercar
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Aston Martin faces £150m lawsuit over development of its troubled Valkyrie hypercar
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Aston Martin faces a lawsuit over the development of the plagued Valkyrie hypercar.
In the latest setback for James Bond’s favorite carmaker, two former dealers have filed a complaint in London, claiming they owe £150m.
Details of the complaint are not made public as it concerns private arbitration. But the case involves a deal struck in 2016 when it began development of the Valkyrie.
Two former Aston Martin dealers have filed a complaint in London, claiming they owe £150m in royalty payments from the Valkyrie hypercar (pictured)
Andreas Baenziger and Florian Kamelger, co-owners of the Swiss Nebula Project, had clients in Switzerland at the time.
Under the terms, the Nebula Project handled Swiss customer deposits on Valkyrie orders and got guaranteed royalty payments of 3 percent, about £150 million.
But production only started last year. And relations between the two sides have soured.
In June 2021, Aston claimed the pair withheld customer deposits from Valkyrie and sued them for £15 million.
Aston disclosed the matter last week. It said: ‘At this stage it is not possible to assess the potential total total exposure.’