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Major Aston Martin shareholder cuts stake in British carmaker

A top Aston Martin shareholder cut its stake in the British carmaker by nearly 5%, a regulatory filing showed on Monday. Italian private-equity firm Investindustrial Advisors Ltd disclosed a stake of 14.99% in Aston Martin as of May 29, compared with its previous stake of 19.92%. It was not immediately clear why the fund cut its stake.  Investindustrial is the company's second-biggest shareholder after Canadian billionaire Lawrence Stroll, according to Refinitiv Eikon data. The 107-year old luxury carmaker in May posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. Aston Martin and the PE firm did not immediately respond to requests for comment. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D'Silva) Related Video:

Aston Martin announces $306M in funding to build DBX, 'other new luxury vehicles'

Aston Martin has just gotten one step closer to building a crossover, as the British outfit has secured a 200-million-pound (about $306 million at today's rates) infusion of capital from its leading shareholders. The money will allow Aston Martin to develop "a new vehicle based on the DBX concept," although just how closely the production model will adhere to the concept's styling is unclear. Andy Palmer, the company's CEO, also hinted at other models being added, thanks to the funds. "This additional long-term funding, will enable us to add extra model lines and broaden our presence in the luxury market segment by the end of the decade. The DBX concept has generated interest far beyond our expectations," Palmer said in the attached statement. "The additional investment announced today will allow us to realize the DBX and other new luxury vehicles that will form the strongest and most diverse portfolio in our history." It's unclear what these "other new luxury vehicles" will include. Previous reports have indicated a Lagonda-badged replacement for the aging Rapide will be added to the range, although considering the age of the rest of Aston Martin's lineup, it's a safe bet that at least some of this money will also be put towards vehicles beyond the new CUV and sedan. Scroll down for the full press release from Aston Martin. Related Video: ASTON MARTIN LAGONDA ISSUES GBP200 MILLION FUNDING FOR PRODUCT EXPANSION • Investindustrial and Tejara Capital led a further GBP200 million in investment capital in the form of preference shares • Enables production of DBX luxury crossover, building on range of iconic luxury sports cars • FY 2014 revenues of GBP468 million and adjusted EBITDA of GBP66 million announced 30 April 2015, Gaydon: Aston Martin Lagonda today announced that with the leadership of its major shareholders, it has arranged additional committed funding of GBP200 million, enabling the 102-year old luxury sports car manufacturer to develop significant new luxury models that will drive the future of the company under its strategic business plan. The additional capital investment comes in the form of GBP200 million of preference shares; GBP100 million of which were issued on 29 April 2015 with the remaining GBP100 million – already subscribed for - to be issued in the next twelve months, and will further expand the previously announced investment plan. This major investment in new luxury models is at the core of Aston Martin's strategic vision.

Aston Martin sues Henrik Fisker over Thunderbolt design

Imitation is supposedly the sincerest form of flattery, but Aston Martin isn't blushing after taking a look at the Fisker Thunderbolt. The british luxury brand has filed a lawsuit against the designer for allegedly copying the company's designs without permission in a US District Court in California. Fisker unveiled the Thunderbolt at the at the 2015 Amelia Island Concours d'Elegance as his own take on the Vanquish. The former Aston Martin stylist's changes included reshaping the grille, adding a power dome to the hood and incorporating wraparound rear glass. The version on display was a concept for the design, but the plan was to sell a slightly modified production version through Galpin Aston Martin. This lawsuit puts assembly in doubt. "This lawsuit centres on Henrik Fisker's creation and promotion of automobiles that Aston Martin contends infringes Aston Martin's rights, by an improper and unauthorised attempt to exploit and free-ride off them," said a portion of a prepared statement from the company emailed to Autoblog (embedded in full below). According to Bloomberg, the automaker claims in the suit that portions of the design, including "the famous Aston Martin mark, wings logo, side vent mark, and Vanquish mark" are being coping in Fisker's design. The business also calls the plan to change the design for the production version a "bait-and-switch." Fisker helped to shape the look of the Aston Martin DB9 and V8 Vantage during his time as a designer at the brand. "Today Aston Martin filed a lawsuit in the state of California to protect its valuable trade marks, designs and intellectual property rights. This lawsuit centres on Henrik Fisker's creation and promotion of automobiles that Aston Martin contends infringes Aston Martin's rights, by an improper and unauthorised attempt to exploit and free-ride off them. Aston Martin regards such conduct as wholly unacceptable and reserves all rights available at law to challenge it."