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Billionaire Lawrence Stroll reportedly seeks major stake in Aston Martin

LONDON — Canadian billionaire Lawrence Stroll, owner of Formula One team Racing Point, is preparing a bid for a major stake in Aston Martin, Autocar magazine reported, sending the carmaker's battered share price up nearly 15% on Thursday. The British sports car maker's share price has slumped since its initial public offering in October last year. The shares launched at 19 pounds ($24.50) before dropping for months and languishing at around 5 pounds for weeks as sales have failed to meet expectations. Its major shareholder is Strategic European Investment Group from Italy, which holds about a third of the company. Stroll is the father of Formula One driver Lance Stroll, and is also famed for his car collection, regarded as one of the best collections of Ferraris in the world. Stroll is heading up a consortium looking to take a "major shareholding" in Aston Martin, Autocar said on Thursday. Two weeks ago, Aston unveiled the DBX, its first SUV, and is pinning its hopes on the model's success. Aston Martin declined to comment. Racing Point did not immediately respond to an emailed request for comment. The carmaker's shares were up nearly 15% at 5.79 pounds Thursday.  

Aston Martin confirms new platform under development

It's been thirteen years since Aston Martin introduced the original V12 Vanquish. The model was effectively been replaced twice over by the time it reached its Bar Mitzvah, but its underlying platform is still around. And not just around, either: it underpins everything Aston makes and has made ever since it came on the scene, save for the Cygnet and the One-77 supercar. That includes the V8 and V12 Vantage, the short-lived Virage, the new Vanquish, the DB9, DBS, V12 Zagato and even the four-door Rapide. But while it may seem like forever that Aston's been using the VH platform, it won't be around forever more. In announcing its positive financial results for 2013, Aston Martin CFO Hanno Kirner confirmed: "We are engineering a completely new architecture and technologies to ensure that our next generation of sports cars is at the forefront of design, performance and technology." The new platform is expected to underpin the next generation of Astons Martin, and will be powered by a new V8 engine being developed by Mercedes-AMG, similar to the arrangement that sees V12s furnished to Pagani for the Huayra. Whether an AMG-developed V12 is also in the cards for Aston Martin remains to be seen – the company ran on V8 power alone from the mid 70s (when its six-cylinder engine was retired) until the Ford-developed DB7 brought six- and then twelve-cylinder power. That aging but glorious 6.0-liter engine, by the way, still powers the vast majority of the company's lineup. The platform and associated technologies are being funded by the influx of capital from shareholders Investindustrial, Primewagon and Adeem Investment and by a 13-percent increase in revenue due to the launch of the new Vanquish Volante and V12 Vantage S, as well as the company's expansion into new markets like Mexico and Thailand. It wasn't long ago that upon spending a week with the company's Vanquish coupe that we fell just short of love, wondering aloud how long Aston could weather its uncertain financial picture while still relying heavily on elderly technology and drivetrains cradled in elderly platforms. We now appear to have our answer, and we like what we're hearing. Aston Martin Holdings (UK) Limited Full Year Results 2013 28 April 2014, Gaydon: Aston Martin Holdings (UK) Limited is today announcing full year results for the 12 months ended 31 December 2013.

Aston Martin seeks ‘big brother’ despite first profit in years, IPO talk

Aston Martin just reported that it earned $121 million (or GBP87 million) in 2017, its first profit in eight years, and it's preparing for a possible initial public offering, eyeing a valuation as high as $6.95 billion (GBP5 billion). It has a strategy to begin converting its fleet to hybrid and electric powertrains. Nevertheless, the low-volume British luxury marque says it needs a helping hand to survive the wave of autonomous driving technology sweeping the automotive industry. CEO Andy Palmer tells Bloomberg it's looking for a "big brother" partner to help it with the billions of dollars in capital requirements posed by the dawn of driverless cars. "We are making a new kind of company, a company that can survive on 7,000 to 14,000 very highly priced, very profitable cars a year, but it can survive because of its partnerships," Palmer told Bloomberg TV. "It can be very profitable on that 7,000 to 14,000 cars a year but only by having a big brother that can help it out." Palmer said Aston Martin already has a partnership with Daimler AG, which owns a 5-percent stake in the company, to develop autonomous capabilities, but more help is needed. One assumes he is envious of competitors like Rolls-Royce and Bentley, which benefit from the corporate parentage and financial resources of BMW and Volkswagen, respectively. Sales grew 48 percent in 2017 to nearly 5,100 units, Aston's highest sales volume in nine years, on the strength of the DB11 sports car, which starts at $211,995. It was enough for Palmer to proclaim in a release, "The financial turnaround of Aston Martin is now complete." While it shops around for a sugar daddy, Aston Martin is busy building a new factory in Wales, set to open in 2019. It has launched new models like the DB11 Volante and Vantage, plus the limited-production DB4 GT Continuation model. Further out, the company is building 155 examples of its first electric car, the RapidE, due in 2019, and it's developing an electric version of the DBX crossover, also for 2019. Palmer has said Aston Martin will offer all six of its vehicles in hybrid variants by 2025, with 25 percent of its vehicles to be fully electric by the end of the 2020s. Related Video: Image Credit: Aston Martin Aston Martin Autonomous Vehicles Electric Luxury aston martin rapide aston martin vantage aston martin db11 aston martin dbx aston martin db11 volante