Aston Martin is canceling is mid-engined Valkyrie racer and stalling EV development until 2025 as it reassess both the racing and industry landscapes. The Valkyrie was originally scheduled to commence its racing career in Silverstone this fall, before moving on to the main event — the 24 Hours of Le Mans — in 2021. Now, the company says it will halt development on the racer while it reorganizes under new investor Lawrence Stroll (Red Bull is out) and the Racing Point F1 team.

This appears to leave Toyota as the only big-boy factory team participating in the LM Hypercar division for its introductory season. Despite assurances that factory LMP1 teams had an interest in the class, they haven’t been clamoring to get involved. Peugeot and Glickenhaus are technically still in the running, though neither appear to have expended the same kind of cash as Toyota or Aston and are likewise presumed to pull out before the season starts.

This must be confusing for the FIA, as Hypercar was seen by the World Endurance Championship as an affordable alternative to P1 while also allowing manufacturers to adhere more closely to signature body styles that the prototypes would allow. It was assumed automakers would love this, as it allowed for more direct marketing ins and some overlap with the prototype cars.

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Aston Martin CEO Andy Palmer promised it at Toronto’s Canadian International Auto Show in February and today he delivered: the psychotic AM-RB 001 hypercar will shed its fax-machine name and henceforth will be known as the Valkyrie. Tremendous.

Oh, and Aston also used the Geneva Motor Show to introduce its own performance brand in the vein of AMG and M, to be called AMR.

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