2009 Aston Martin Vantage Coupe on 2040-cars

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Aston Martin speeds ahead with October IPO worth perhaps $6.7 billion

LONDON — Luxury British carmaker Aston Martin is seeking a valuation of up to 5.07 billion pounds ($6.7 billion) from its stock market flotation and has taken steps to prepare for any eventuality over Brexit, it said on Thursday. The company, famed for making the sports car driven by fictional secret agent James Bond, said last month it was pursuing an initial public offering (IPO), the first British carmaker to do so for decades. The automaker will publish a prospectus later on Thursday and hopes to announce its final pricing on or around Oct. 3. It expects its shares to be admitted to the London Stock Exchange on or around Oct. 8. Carmakers have warned about the impact of any customs checks introduced as a result of a no deal or hard Brexit which could slow down production and add costs when Britain leaves the bloc in March 2019. The boss of Aston, which builds all its cars in Britain, said the company had boosted its stock of engines and components in case free and unfettered trade with the European Union ends in a few months' time. "We're up to five days of engine stock for example and we've got a very large warehouse in Wellesbourne (in central England) where we have at least five days of car stock," Chief Executive Andy Palmer told Reuters, an increase from the previous three days' worth of components held by the firm. "If there are tariffs ... for every car we lose because of a 10 percent tariff into Europe, we presumably pick up from Ferrari and Lamborghini in the other direction because obviously their cars become more expensive in the UK," he said. London and Brussels hope to conclude a Brexit agreement by the end of the year, but fellow carmakers such as BMW and Jaguar Land Rover (JLR) are worried that failure to agree could lead to snarl-ups at motorways and ports, disrupting production. JLR boss Ralf Speth warned last week that the wrong Brexit deal could cost tens of thousands of car jobs and risk production at the firm, Britain's biggest carmaker. Aston, which has set a price range of 17.50 pounds to 22.50 pounds per share for the 25 percent of stock it is floating, is targeting a market capitalization of between 4.02 and 5.07 billion pounds. The carmaker, which has long said it could pursue a listing, has undergone a turnaround plan since Palmer took over in 2014 as it boosts its volumes and expands into new segments with a new factory due to open in 2019.

2019 Aston Martin Vantage ridealong: Going to the extremes

"My job is to make them drive like they look," Matt Becker, Aston Martin's vehicle attributes engineer, tells me. The engine is idling, and we're harnessed inside of the 2019 Vantage test mule's racing bucket seats, somewhere on a frozen lake near the Arctic Circle in Sweden. Since the Vantage is Aston's best seller, and it's representative of the things the brand stands for, it's safe to say this chilly prototype is the most important Aston Martin on the planet right now. "Shall we have a go?" Becker rhetorically asks, looking out at the ice track. "First, with all the systems on. We test and develop this car with systems on and off, at every stage." Becker shifts the Vantage into Drive, and immediately it sounds happier. Under the hood is an Aston-ized, AMG-sourced twin-turbo V8, packing 503 horsepower and 505 lb-ft of torque. It was given the full work-over, and the controller algorithms were developed to make it behave like a proper Aston. Power is channeled through an eight-speed ZF automatic gearbox. How and when the power comes on depends on driving conditions and mode, of which the 2019 Vantage has three: Sport, Sport Plus and Track. Absent is the DB11's GT mode, which fits perfectly on the grand tourer but not on a pure sports car such as the Vantage. Throughout testing, the Vantage stays under heavy camouflage and even sports some DB11 bits at first to deter speculation. But despite the partial DB11 drag, the Vantage will embody CEO Andy Palmer's directive: "[W]e need greater differentiation between the lines." While the DB11 is a striking and elegant grand tourer, the Vantage dials up the aggression over its predecessor. A massive, oxygen-gulping grille dominates the frontend. The car is about the same width as the DB11, but in person, it seems twice as wide as more pedestrian sports cars. Fender vents serve both functional and aesthetic purposes. The lip of the trunk swoops up, a naturally integrated spoiler that will help deliver downforce. But there's a lot more at play than is even immediately evident to the eyes, most important of which is the electronic rear differential. This the first Aston to ever be fitted with an e-diff. As Becker explains: "What that allows us to do is vary the amount of torque across the rear axle that we have, which allows you to make the car very short, very agile. Add in tricks like Dynamic Torque Vectoring, and because we can open up the diff, it's like putting a pole in the ground when you're skiing.

Aston Martin SUV production to start in late 2019

Aston Martin has confirmed it's upcoming SUV will begin production at a new factory beginning in late-2019. The high end sport-utility will be similar in size and design to the DBX Concept, which Aston Martin first exhibited in Monterey back in 2015. Since it first debuted three years, the market for exotic and hugely expensive sport-utilities has gotten red-hot and highly competitive. New models in this rarefied segment of the sport-utility world now include the Lamborghini Urus, Rolls-Royce Cullinan, and Bentley Bentayga. The plant where Aston will build its SUV is based in St. Athan, Wales, on the site of a former Royal Air Force base. A total of three former aircraft hangars are being combined, to create this new facility. This factory is only part of a larger expansion plan that will add roughly 1,000 new employees to Aston Martin's ranks, stationed throughout its existing facilities in Gaydon and Newport Pagnell, along with the new St. Athan-based site. "We are delighted at the progress being made at the St Athan site. The team have done a fantastic job in advancing the facility and I was incredibly proud to chair our first Board meeting at the new plant," said Andy Palmer, Aston Martin's president and CEO. Showing how important adding a truck is to its future business model, Aston confirmed a total of 150 employees will be assigned solely to "pre-production preparations" related to the company's upcoming SUV. Related Video: