2024 Aston Martin Db12 V8 Coupe on 2040-cars

Auto blog

Canadian billionaire Lawrence Stroll leads $240 million Aston Martin investment

After months of rumors and speculation, Canadian billionaire Lawrence Stroll confirmed he led the purchase of a 16.7% stake in Aston Martin for GBP182 million ($239 million). The investment is part of a GBP500 million ($656 million) round of emergency funding that will help the British automaker overcome serious financial challenges. Yew Tree Overseas Limited, a consortium of international investors led by Stroll, built its stake by buying 45.6 million new ordinary Aston Martin shares on the London Stock Exchange, according to Autocar. Aston Martin raised the remaining GBP318 million ($417 million) by giving existing investors the opportunity to buy more shares, the BBC learned. It's not a full bailout, but it's close. Aston Martin ended 2019 in dire financial straits. Stroll will replace Penny Hughes as Aston Martin's chairman; CEO Andy Palmer is expected to keep his job. Several sources confirmed the Racing Point Formula One team owned by Stroll will be rebranded Aston Martin after the 2020 season, and Autocar reported the company will quickly need to eliminate jobs and slash costs. "The difficult trading performance in 2019 resulted in severe pressure on liquidity, which has left the company with no alternative but to seek substantial additional equity financing. Without this, the balance sheet is not robust enough to support the operations of the group," Hughes admitted in an interview with the BBC. Stroll's' appointment to the Aston Martin board comes as the company prepares to overhaul its product plan. It notably confirmed the rumors claiming it put the battery-powered Rapide project on the back burner until further notice, and it delayed plans to revive the Lagonda nameplate on a series of extra-luxurious electric vehicles until after 2025. The first car was originally scheduled to reach the market in 2022, but the battery technology is expensive to develop, and Aston must save about 10 million pounds (around $13 million) annually. The firm will instead focus on mid-engined sports cars. Still according to Autocar, it will begin delivering the 1,160-horsepower Valkyrie hypercar this year, and it's on track to launch the Valhalla in 2022. The Vanquish will go mid-engined shortly after. Delaying electric cars doesn't mean abandoning electrification, and Aston Martin hopes to release "a fuel-efficient, modular V6 engine with hybrid capabilities" by the middle of the 2020s.

DBX goes black tie with Q by Aston Martin

Aston Martin won't begin delivering its new DBX to customers in North America until the latter half of this year. Perhaps as a favor to DBX intenders that haven't placed orders yet, Q by Aston Martin has prepared a bespoke DBX for the Geneva Motor Show that presents a sliver of the creative possibilities unlocked by working with Q. The near infinite menu of choices has been broken down into two groups, Q by Aston Martin Commission and Q by Aston Martin Collection. Collection fits a range of predesigned accessories like carbon fiber paddle shifters or hood vent louvers for the DBS Superleggera. The Commission range encompasses all the imagination that a customer's bank account can fund. The Geneva show car wears Satin Xenon Grey paint from the Collection, as well as carbon fiber pieces around the lower exterior, black anodized tread plates and plaques on the sill. The 22-inch gloss black painted wheels come from the Commission department. The grand showcase comes inside the DBX vault. Yards of Obsidian Black Leather come from the SUV's standard options list. Commission stewards designed the satin chrome aluminum trim and jewelry as an entree, all milled from a solid ingot of the shiny stuff and finished with a special diamond pattern. They followed that up with a custom technique for the carbon fiber floating center console, door trim, and luggage floor. Craftsmen laid up 280 layers of carbon fiber, cured it for 12 hours, then put five-axis milling machines to work for 90 hours to create the necessary shapes. The finish on the cabin pieces reflects the strata of the hand-laid layers, while the span protecting the luggage floor comes from a single sheet of herringbone-pattered carbon fiber. Raised metal and rubber welts help protect the load floor finish and prevent cargo sliding to and fro.  The standard DBX starts at $192,986 after destination. A Q by Aston Martin DBX will, naturally, cost a touch more. Related Video:    

GM says second recalled ignition switch was made in China

The defective ignition switch that led General Motors to recall an additional 3.4 million large sedans earlier this month was manufactured in China, according to a report filed with safety regulators obtained by Reuters. The switches can be knocked out of the run position, much like those affecting the Chevrolet Cobalt and other GM small cars, turning off the engine and safety systems like the airbags. Unlike GM's previous ignition switch recall, though, this latest issue will see dealers simply modify the key rather than replace the ignition switch outright, despite the fact that the switches were "slightly" below torque specifications. If what GM is claiming about this switch's origin is true, it'd mark the second high-profile recall of a part manufactured in China, following Aston Martin's (relatively) huge recall due to faulty accelerator arms in over 75 percent of the cars it had built since 2007. For what it's worth, from our perspective, the link between the Aston plastics and this GM switch seems just a bit too tenuous for us to put a lot of stock in GM's problems stemming from the location of its parts supplier, especially when the related investigation into its corporate culture has resulted in so many other culpable actors. Featured Gallery 2008 Buick Lucerne CXL Special Edition News Source: Reuters Recalls Aston Martin GM Safety supplier gm ignition switch recall gm safety ignition switch