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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 DB11 is such a tease

Aston Martin would like to take a moment to remind you that it makes beautiful cars. Naturally, the model you're likely most interested in learning about is the upcoming DB11, which we're pretty sure will make its global public debut at the upcoming Geneva Motor Show in March. To make sure you don't forget, the automaker has created this handy teaser microsite. Although the video released by Aston Martin to go along with its teaser site doesn't actually mention one of its prettiest recent models, the DB7, it does hit some memorable highlights. Starting all the way back in 1950 with the introduction of the DB2, the British sportscar manufacturer has had a history of stunning coupes. Perhaps the most well-known of all is the DB5 of the Swingin' Sixties, made famous as the car James Bond drove as he eluded baddies in movies like Goldfinger. Granted, we already have an idea of what the new DB11 will look like, at least from the front, which makes dark and shady teasers like the one here a tad less interesting. No matter, we like what we've seen so far, and can't wait to take it all in once the coupe is released in all its official glory. Until then, let the teasing continue. Related Video:

Alfa Romeo Tonale Jeep-derived crossover reportedly delayed by new CEO

Alfa Romeo's long-awaited Tonale crossover might not make its global debut in 2021 after all. Its launch has reportedly been delayed because the firm's boss wasn't satisfied with the proposed plug-in hybrid drivetrain. Anonymous sources familiar with the company's product plan told industry trade journal Automotive News that the Tonale won't begin arriving in showrooms until the first part of 2022 at the earliest, a delay of at least three months. It was tentatively scheduled to enter production on the outskirts of Naples, Italy, in October 2021. While setbacks aren't uncommon, the same sources claim the soft-roader's postponement was ordered by Jean-Philippe Imparato, who was appointed Alfa Romeo's chief executive in January 2021 when FCA merged with PSA to form Stellantis. Formerly at the head of Peugeot, Imparato demanded better performance from the hybrid powertrain that will be offered on some variants after seeing the Tonale for the first time in January 2021. Whether he wants additional electric range, more horsepower, or both remains to be seen. Alfa Romeo hasn't released technical details, but Automotive News reported the crossover will be closely related to the Jeep Compass, so it could get its American cousin's gasoline-electric plug-in technology. It consists of a 1.3-liter four-cylinder engine and an electric motor mounted over the rear axle. The system's total output checks in at 190 horsepower and 199 pound-feet of torque, though a 240-horse variant of the drivetrain is available on more upscale trim levels. Electric range is rated at 31 miles at up to 81 mph, and hitting 60 mph from a stop takes 7.5 seconds, a respectable figure for the segment. Another point that's unclear is how engineers will improve the Tonale's numbers. Making tweaks to Jeep's 4xe powertrain is an option; borrowing components from the Peugeot-Citroen parts bin is another, though the latter solution is more difficult to implement than the former. Less than a year away from production, even with the delay taken into account, the Tonale is mostly locked in. Photos taken during a design clinic (pictured) suggest it has changed significantly since we discovered it as a concept in 2019. Redesigning the engine bay to accommodate a different four-cylinder or reengineering the structure to fit a bigger battery could cost millions of development dollars.