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Aston Martin not actively pursuing new investors as opens SUV plant

ST ATHAN, Wales — Aston Martin, which was reported this week to be the target of Canadian billionaire Lawrence Stroll, said it was not actively pursuing new investors on Friday as it opened a new factory to build its first sport utility vehicle. As some in the global car industry turn to partnerships, alliances or mergers to handle the challenge of electrification, new technology and tighter margins, Autocar magazine reported on Thursday that Stroll, the owner of Formula One team Racing Point, is preparing to buy a major stake in Aston. "You know what we would have to do if there was an official approach. Beyond that, I can't comment," Aston's chief executive Andy Palmer told Reuters at the factory opening, referring to rules governing publicly-listed companies. "We're certainly not actively soliciting any other participation. That's not to say it doesn't come," he said when asked whether Aston needed a new investor. The British automaker's new factory in south Wales holds the key to ending a poor performance this year from Aston, whose shares have tumbled 75% this year on weaker-than-expected sales. In August, Aston's biggest investor, Strategic European Investment Group, bought an extra 3% stake in the 106-year-old company, whose second largest shareholder is a Kuwaiti investor. Last month Aston, which floated in October 2018, launched its DBX model, hoping that more female buyers will help boost sales after posting a pre-tax loss of 92.3 million pounds ($118 million) for the first nine months. It hopes its new factory, in St Athan, near Cardiff, will help turn around its fortunes. The plant is its second alongside its historic one in Gaydon, central England. As the autos sector consolidates through deals such as the merge of Peugeot and Fiat, Aston has said it does not need to belong to a bigger automotive group, pointing to the success of stand-alone rival Ferrari. Palmer said the small stake held by Germany's Daimler allows Aston to have access to technology and benefit from the speed at which it can operate independently. "There is a perfectly rational route to success in our current state," he said. Reporting by Costas Pitas.

Aston Martin waxes poetic about the good life with The Art of Vanquish

Aston Martin markets itself as offering the classy alternative to hardcore sports cars. Its vehicles are certainly capable, but they are also sold as offering an extra dose of luxury to go along with their power. The company is leaning hard into that image in a new short film called The Art of Vanquish. Over the grumble of the coupe's V12, the announcer reads a poem about the metaphor of life's journey, and it positions the Vanquish as a symbol of progress. The film is interspersed with shots of luxury goods like thickly upholstered leather chairs and products from sound system maker Bang & Olufsen, men's clothier Hackett London and Swiss watchmaker Jaeger Le Coultre. The production team True Motion Pictures created the short and has also done projects for Audi and Sony, among other companies. Of course, the idea that Aston Martins and other luxury goods are a symbol of life's adventure is a little contrived. It's still just a car after all – albeit an absolutely gorgeous one. Still, the film is an opportunity for a closer look at the Vanquish, and its wonderful growl is featured throughout. Scroll down to watch the video and be swathed in its poetic concept of luxury. Aston Martin, 'The Art of Vanquish' from True motion pictures on Vimeo.

British carmakers facing hard choices as the clock ticks toward Brexit

ST ATHAN, Wales/GAYDON, England - In three cavernous former Royal Air Force hangars at an old airbase in Wales, luxury carmaker Aston Martin is forging ahead with construction of a new vehicle assembly plant. The paint shop is in, robots are being unpacked, and production of the company's critical new sport utility vehicle is on track to start this year – Brexit deal or no deal. "I still have to believe that we'll get to a proper and right decision because a no-deal Brexit is frankly madness," Aston Martin CEO Andy Palmer told Reuters at the company's Gaydon headquarters in England, where designers are working on a diverse lineup of vehicles for the 2020s and beyond. Headlines have focused on plant closures and job losses ahead of Britain's divorce from the EU. Nissan has scrapped plans to build its new X-Trail SUV in the country, while Honda will close its only UK car plant in 2021 with the loss of up to 3,500 jobs - though it has been said the decision was not related to Britain's exit from the EU. However, many auto companies - from luxury marques like Aston Martin to mass-market brands such as Vauxhall - are working on ways to survive after March 29. On the outskirts of London, workers at Vauxhall's operation in Luton are preparing to produce a new line of commercial vans following fresh investment from the brand's French owner PSA, which they are counting on to sustain more than 1,000 jobs. While post-Brexit market conditions remain a big unknown, Vauxhall boss Stephen Norman told Reuters Britain's exit from the European Union could present an opportunity to increase the brand's market share. He is pursuing a marketing campaign to boost demand for the company's modestly priced cars and SUVs. The continued investment by some carmakers and the potential sales upside seen by Vauxhall reflect the conflicting decisions and opportunities that brands face depending on their size, their customers and where they are in the production cycle. All automakers in Britain will have to find ways to make Brexit work, even if only in the short term. Nissan builds nearly 450,000 cars and multiple models, making it hard to pull out of the country any time soon. Toyota builds just one model in Britain, the Corolla, but has only just started making it. The typical life cycle of a car is six years. RACKS OF DASHBOARDS Aston Martin and Vauxhall are as different as two auto companies can be.