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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.

2019 Aston Martin Vanquish: Like a handsomer DB11 with more grunt

Aston Martin appears to be getting the 2019 Vanquish ready for action, as these spy shots from the Nurburgring show. There's a lot of DB11 there at first glance, but let's take a closer look and try to spot most of the differences. To begin with, the headlights and front fascia are different. There's more overall intake area upfront, with lower side vents and a much bigger grille opening. The headlights are rounder than the DB11s, and to this author's eyes more classic and attractive. The hood extractor vents are in a different place, large quadrangles instead of the DB11's long, narrow slits – although this could easily change for production, as this arrangement might only be for the mule. Moving to the side, the sills are wider and the wheels are larger, likely an inch greater diameter than the DB11's judging by the reduced sidewall. The car is also noticeably lower. Out back, the most obvious difference is the quad pipes. They nestle above a more aggressive rear diffuser. So far, all this looks to be production-possible. Certainly the Vanquish will be positioned as a more aggressive, powerful version of the DB11, to which it's related. While the specific shapes may be tweaked slightly, everything we're seeing looks to communicate the Vanquish's mission effectively, and nothing looks unrenderable in metal or composite. Long story short: This looks like a nearly finalized exterior design. Note that this isn't related to the Vanquish Zagato Volante we saw earlier this year. That car is a final hurrah for the old, VH-architecture Vanquish. We expect the Vanquish to have more than the DB11's impressive 600 horsepower, so it can do battle with competitors from Ferrari like the 812 Superfast. Related Video:

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: