Aston Martin faces £150m lawsuit over the development of its troubled Valkyrie hypercar
Aston Martin faces a lawsuit over the development of the troubled Valkyrie hypercar.
In the latest setback for James Bond’s favourite car manufacturer, two former dealers have filed a complaint in London claiming they are owed £150million.
Details of the complaint are not public because it is private arbitration. But the case relates to a deal agreed in 2016 when it began developing the Valkyrie.
Two former Aston Martin dealers have filed a complaint in London claiming they are owed £150m in royalty payments from the Valkyrie hypercar (pictured)
At the time Andreas Baenziger and Florian Kamelger, co-owners of the Swiss Nebula Project, dealt with clients in Switzerland.
Under the terms, the Nebula Project handled Swiss customer deposits on Valkyrie orders and were guaranteed royalty payments of 3 per cent, about £150million.
But production only began last year. And relations between the two parties have soured.
In June 2021 Aston claimed the pair had withheld Valkyrie customer deposits and sued them for £15million.
Aston revealed the case last week. It said: ‘At this stage it is not possible to assess the potential total overall exposure.’