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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.

Aston Martin bringing Vantage GT12, Lagonda to Goodwood

Over the past 22 years, the Goodwood Festival of Speed has become one of the premier classic car events in the world. It's a place where incredibly rare vehicles are dusted off and are actually driven up the estate's famous hill. In addition to all of the wonderful things on display there this year, Aston Martin is giving the public a look at two of the brand's rarest current models – the Vantage GT12 (pictured above) and Lagonda Taraf. Goodwood is actually the first time the Vantage GT12 will be displayed on British soil, and all 100 units of it are already sold out. Aston originally debuted the stripped-out, 592-horsepower, V12 coupe at the 2015 Geneva Motor Show as the Vantage GT3, but a legal dispute with Porsche over the name forced the switch to the current moniker. Rather than just a static display, Aston CEO Andy Palmer has also decided to drive a GT12 up the hill. If race-inspired, limited-edition coupes somehow aren't your thing, Aston Martin is also putting the Lagonda Taraf on display. Once exclusively available in the Middle East, the 200 examples of the carbon-fiber sedan are now for sale only by invitation, and this outing at Goodwood actually marks its global, public debut, outside of a major auto show. Each one is assembled by hand at the same dedicated facility responsible for vehicles like the One-77. Beyond the company's latest and most limited production models, visitors to Goodwood also have the opportunity to watch the hillclimb by the #97 Vantage GTE racer from Le Mans with a mind-bending livery. Rarities like the CC100 are going to be making runs, as well. As usual, if you can make it the UK, this sounds like a must-see event. Related Video: ASTON MARTIN TO THRILL GOODWOOD WITH ITS BIGGEST-EVER PRESENCE 18 June, 2015, Gaydon: Aston Martin arrives at the 22nd Goodwood Festival of Speed next week with a superb line-up of exclusive and exciting sports cars and super saloons which, together, represent its biggest presence yet at the world-renowned celebration of motoring and motorsport. The luxury British sports car maker will treat the Goodwood patrons to a feast of 'firsts', including the UK debut of the motorsport-inspired, and now sold-out, Vantage GT12 and the global dynamic debut of the strictly-limited luxurious new Lagonda Taraf super saloon.

Aston Martin Valkyrie begins production in dashing green dress

A new era of hypercars is officially born today, as the first production Aston Martin Valkyrie rolls off the line. That’s right, the Valkyrie is officially starting its extremely limited production. The Valkyrie entering production now also means that Aston Martin has beaten Mercedes and its competing hypercar, the AMG One, to production — both cars saw their "debuts" in 2017. Last we heard from Mercedes on that front, the AMG One was still undergoing testing. Updated timing on the carÂ’s production release was not detailed in this announcement that took place over a year ago. Perhaps those who ordered the AMG One have more insight on when their specific cars will be built, but for now, the production car is still floating out there in the ether. Meanwhile, Aston Martin says the first Valkyrie, pictured in green here, is awaiting delivery. Aston does not say who the first owner is or detail the spec of the car, but we applaud the dark green paint chosen. “It is an immensely proud moment for us to complete our first ever hypercar,” Aston Martin CEO, Tobias Moers said. “The Aston Martin Valkyrie program has tested everyone who has worked on it to the limit but the commitment to the dream has produced a truly incredible car, an F1 car for the road.” Production for the Valkyrie is taking place in a special Valkyrie-only area of AstonÂ’s Gaydon headquarters. A small team of technicians spend over 2,000 hours total to build each car, and there will be 150 total Valkyries produced. If you want to know all the nitty gritty details of AstonÂ’s hypercar, make sure to check it out in our previous Valkyrie coverage. And enjoy the sound of its Cosworth V12, too. ItÂ’s downright magical to hear. Related video: