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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 working on mid-engine Valkyrie ‘brother’ to rival McLaren P1

We know about the Aston Martin Valkyrie and the Valkyrie AMR Pro (pictured). And we know Aston Martin is planning a mid-engine rival for the Ferrari 488 and McLaren 720S. Now Autocar reports that the English luxury maker is working on yet another mid-engine model, a hypercar to outdo the McLaren P1 and Ferrari LaFerrari and stand up to the coming McLaren BP23. The newest addition to the small carmaker's grand plans is said to be known internally as "brother of the Valkyrie," and came about because of the sellout success of both the Valkyrie and Valkyrie AMR Pro. Both "brother of Valkyrie" and the 488 competitor are expected to use a carbon monococque with aluminum subframes. Both will use lessons from Aston Martin's tie-up with the Red Bull Formula 1 team, especially in packaging. Both are due to hit the market around 2021. And both will be products of the carmaker's Performance Design and Engineering Centre, a base of 130 engineers set up at Red Bull F1's Milton Keyes headquarters. However, the former car will fight in the GBP1M-plus price bracket ($1.4M-plus) where various manufacturers have made amazing hay with warp-speed daily drivers, and will be a limited edition "in order to add to its desirability." We remain in the dark on powertrains for both cars, but outsiders expect both to use a V8. When it comes to the "brother" car, Aston Martin's working relationship with Mercedes-AMG means it could tap the 4.0-liter V8 used by the DB11 and the Vantage. Apparently that engine can be wrung out to 800 horsepower with help from an ultimate EQ Boost setup. That still wouldn't be enough to compete in the segment, though, so the "brother" could become a demonstrator for Aston Martin's electric know-how — a rolling showcase that could turn its halo light on a potential electric sports car. Or perhaps there's another option that turns to Cosworth, the company helping develop the 1,000-hp 6.5-liter V12 in the Valkyrie. Aston Martin boss Andy Palmer wouldn't say much more about the junior supercar powertrain than, "In our portfolio today, we don't have an engine capable of giving us the output we require.

Aston Martin considers offering new Lagonda Taraf outside of Middle East

Aston Martin officially took the wraps off its new Lagonda sedan in Dubai on Monday, revealing the luxury limousine in all its glory and revealing its nameplate as Taraf – derived from the Arabic word for "luxury" (not for some Kurdish starlet). A fitting name, since it will only be offered to select customers in the Middle East, where a large number of its '70s-era predecessors have found homes. But while the model was clearly and emphatically targeted at the Persian Gulf clientele, Aston Martin is reportedly considering offering the Lagonda Taraf in other markets as well. Both Car and Top Gear are citing Aston's new chief executive Andy Palmer on the matter from the unveiling in Dubai: "I can confirm today that we are also evaluating the opportunity to offer this Lagonda in other markets." Whether it would carry the Arabic name along with it, we don't know. Nor do we know, for that matter, if the US would be among those markets which Aston would consider selling the sedan. "We have enjoyed excellent levels of interest in the Lagonda and we are investigating possibilities for other markets besides the Middle East," said Matthew Clarke, the company's spokesman for the Americas, in correspondence with Autoblog. "However, we can't add any more or be any more specific at this very early stage." Understandable, of course, but we hope to hear good news in the near future.