Petrol heads need not fear that the Aston Martin DBS Superleggera will become fully-automated anytime soon. Aston Martin.
Petrol heads need not fear that the Aston Martin DBS Superleggera will become fully-automated anytime soon. Aston Martin.
Petrol heads need not fear that the Aston Martin DBS Superleggera will become fully-automated anytime soon. Aston Martin.
Petrol heads need not fear that the Aston Martin DBS Superleggera will become fully-automated anytime soon. Aston Martin.

Aston Martin chief laughs off threat from shift to hands-free cars


Jamie Prentis
  • English
  • Arabic

As automobile giants and innovative technology gurus race to develop automated vehicles, luxury brand Aston Martin knows customers will still buy its full-throttle driving experience and spurn hands-free options

“Not many Aston Martin customers are looking for autonomous drive vehicles. To be frank, it’s not the reason for buying,” said its Chief Executive Officer Andy Palmer, describing a business model focused on “exclusivity and scarcity”.

It’s not to say the highly sought Aston Martin, famously driven by fiction spy James Bond, is not interested in automating parts of the driving experience. There is a great sense that that it could actually make it safer.

But Mr Palmer says there has to be a sense of prudence “rather than recklessly applying populist types of technologies”. He also slammed the authorities who he believes have rushed through autonomous legislation through before the technology is properly developed.

“We risk using our customers as beta tests and that’s not how you should deploy technology,” he told the Motor Manufacturers and Traders event in London

Advocates for increasingly, or even fully, automated cars say it would bring tens of billions of pounds to the UK, save journey times and slash fatalities when fully regulated.

The industry is currently graded on five scales, with cruise control option at the first level and more sophisticated journey management like assisted lane movements.

At the top is level five, where there is zero human control over the moving vehicle isn’t expected to be offered in the marketplace until at least the 2030s. Level four, which Mr Palmer said believes remains years away from road use, would see fully autonomous vehicles operate in designated.

Mr Palmer said Aston Martin would never pursue a third level, a sort of in-between where the car could control many safety aspects.

“We have to be careful in applying new technology and new information to the driver that we are not making that worse. It’s that logical deployment and not just making a USP that makes the car seems sexy for the press.”

Statistics show some 90 per cent of road accidents are caused by driver errors or distractions, and Mr Palmer said reducing this had to be the focus.

“So cherry picking bits of the technology deploying them early potentially has the risk of making them worse not better,” said the Aston Martin CEO. He did not at any point suggest the company was actively pursuing level 4 or 5 automation for its cars, other than perhaps its less-premium Lagonda range but still urged the industry to tread carefully.

“My appeal is that we work carefully with a plan that gets is to level 4 technology rather than recklessly applying populist types of technologies.”

Automation, if used properly, should work to boost performance and the interaction between the driver and the machine. For instance, Mr Palmer is “passionate” schools and hospitals should be geocached with speed limits so cars automatically slowdown in sensitive areas. When this level 4 mode is “mature” he believes it “could save lives”.

“When we see technology coming, we need to make sure it’s deployed in a sensible and well thought out manner,” he said.

Aston Martin has conceded it like its peers will suffer from the oncoming Brexit turbulence but adds its luxury brand means a greater flexibility with its price tag to cushion the disruption.

British car industry executives gathered in Westminister on Thursday to jointly appeal to the government and European Union to find a way out of the impasse, with their hopes pinned of an agreement that allowed free trade to continue.

Founders: Ines Mena, Claudia Ribas, Simona Agolini, Nourhan Hassan and Therese Hundt

Date started: January 2017, app launched November 2017

Based: Dubai, UAE

Sector: Private/Retail/Leisure

Number of Employees: 18 employees, including full-time and flexible workers

Funding stage and size: Seed round completed Q4 2019 - $1m raised

Funders: Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital, Delta Partners Ventures, with support from the OQAL Angel Investor Network and UAE Business Angels

Company info

Company name: Entrupy 

Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist

Based: New York, New York

Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.  

Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius. 

Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place. 

Notable cricketers and political careers
  • India: Kirti Azad, Navjot Sidhu and Gautam Gambhir (rumoured)
  • Pakistan: Imran Khan and Shahid Afridi (rumoured)
  • Sri Lanka: Arjuna Ranatunga, Sanath Jayasuriya, Tillakaratne Dilshan (rumoured)
  • Bangladesh (Mashrafe Mortaza)
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The specs

Engine 60kwh FWD

Battery Rimac 120kwh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry

Power 204hp Torque 360Nm

Price, base / as tested Dh174,500 

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

MATCH INFO

Manchester United 2
(Martial 30', McTominay 90 6')

Manchester City 0

Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The biog

Favourite books: 'Ruth Bader Ginsburg: A Life' by Jane D. Mathews and ‘The Moment of Lift’ by Melinda Gates

Favourite travel destination: Greece, a blend of ancient history and captivating nature. It always has given me a sense of joy, endless possibilities, positive energy and wonderful people that make you feel at home.

Favourite pastime: travelling and experiencing different cultures across the globe.

Favourite quote: “In the future, there will be no female leaders. There will just be leaders” - Sheryl Sandberg, COO of Facebook.

Favourite Movie: Mona Lisa Smile 

Favourite Author: Kahlil Gibran

Favourite Artist: Meryl Streep

UAE tour of the Netherlands

UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match

ACC%20T20%20Women%E2%80%99s%20Championship
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ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars

- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes

- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts

INFO
Three ways to limit your social media use

Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.

1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.

2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information. 

3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.

Qosty Byogaani

Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

Four stars

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Bullet%20Train
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