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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.

Soundcheck: Aston Martin Valkyrie begins to scream

In July, Aston Martin published the first video of the Valkyrie on track at Britain's Silverstone Circuit during the Formula One Grand Prix weekend there. Test driver Chris Goodwin didn't push the 1,160-horsepower coupe to its limits, merely massaging the throttle for the camera a few times. The English carmaker headed back to Silverstone this month with a group of guests in tow, and this time the test driver put a little more muscle into the fly-bys. Since the track was wet, the soundtrack still can't be considered the ultimate experience, but even so, the 6.5-liter Cosworth V12 sounds exceptionally good. This new video injects a high-pitched wail that was missing in July, the kind of wicked, soaring keen that jellies one's organs and notifies the mind of blinding terrors on approach. In fact, the Valkyrie now makes all the noises Formula 1 fans wished the F1 race cars could make. That's no hyperbole, either. Compare the modern Cosworth to the 3.5-liter Honda V12 in the 1991 McLaren MP4/6, the resemblance is clear. Remove the street-legal equipment on the Aston Martin and let Goodwin uncork it, as we expect to happen in next year's World Endurance Championship, and it's clear the WEC might have the best sounding racers in all of motorsport. Deliveries are scheduled to begin before the end of the year, so Aston Martin should be wrapping up its validation testing on Verification Prototype 1 if it hasn't already. After that come competition entries into the FIA World Endurance Championship (WEC). And after that, someone will need to convince at least one owner to drive the Valkyrie on the street so that we can all enjoy the noise.

Aston Martin DB9 successor makes one sexy mule

It's been a dozen years since Aston Martin first introduced the DB9 to the world, and while it has undergone numerous revisions and updates over the course of its lifetime, twelve years is a long time. Fortunately the British automaker is preparing to launch a new version, and that's just what our shooters in Eiffel have spotted running around the Nurburgring. Now it's hard to tell much from these spy shots, because the prototype they depict is mostly wearing the bodywork of the existing DB9. So all the interesting stuff is happening beneath the skin. But it does appear that the front end is wider, giving the next-generation model – whatever it will ultimately be called – a wider front track and more room in the engine bay. Those who've been following the news will know that Aston has signed a deal with Mercedes-AMG that will see the German automaker's performance division supply it with a new powerplant, but that's not expected to be ready for the DB9 successor's arrival. Look for it to pop up in production guise sometime next year, then, with an evolution of Gaydon's long-serving and ubiquitous 6.0-liter V12 engine that's already developing 592 horsepower in the Vantage GT3... excuse us, Porsche: "GT12." Related Video: