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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 reveals Vanquish Zagato Speedster, confirms Shooting Brake

Today is a big day for fans of Zagato-bodied Aston Martins. The company has revealed the production version of the Vanquish Zagato Volante (the gray car above), a soft-top version of the beautiful Vanquish Zagato Coupe. It has the same 580-horsepower V12 as every Vanquish Zagato has, as well as a customized interior covered in so many "Z"s you'd think it was actually an Aston Martin Zoro. It's in production now, but every example has already sold out. It isn't the only open air Zagato to be shown today, though. Aston announced it is expanding its line of limited production Vanquish Zagatos with a Speedster and an upcoming Shooting Brake. View 7 Photos The Speedster (the red car shown here) makes its full debut this week, and unsurprisingly it looks both gorgeous and very similar to the Zagato coupe, and especially the Zagato Volante convertible. The key difference is that this open-top Zagato has dual cowls finished in exposed carbon fiber that flow back from the seats. Zagato says these are reminiscent of the "double-bubble" roof the company is known for, but seeing as this is also a traditional speedster cue, it seems more like marketing serendipity. That doesn't make it less beautiful, of course. It's also the rarest example of the Vanquish Zagato, as only 28 examples will be built, while the Coupe, Volante, and Shooting Brake will each be made in batches of 99. Like the Volante, all Speedsters have been sold. There's yet one more Aston Martin Vanquish Zagato that hasn't entered production, and presumably hasn't sold out yet: the Shooting Brake. As one would expect from a car with the Shooting Brake moniker, it will be a sporty wagon. It will still be a two-seater, which means it should have an impressive amount of cargo space. That storage can be accessed via a powered hatch, and it can be filled with custom made luggage from Aston Martin. The long swooping roof also features the double-bubble design, and consists of plenty of glass to let in light. Though the car hasn't had a real-life reveal yet, Aston Martin has provided a rendering shown above to illustrate what it will look like. We're rather smitten with the look. We also expect to see the production car revealed next year when production begins. Related Video: Featured Gallery Aston Martin Vanquish Zagato Volante View 14 Photos Image Credit: Aston Martin Aston Martin Convertible Hatchback Wagon Luxury Supercars zagato aston martin vanquish aston martin vanquish zagato

Aston Martin Vantage with a manual transmission due next year

In 2016, Aston Martin CEO Andy Palmer told Car and Driver that that Aston Martin would continue to offer manual transmissions and will always have at least one hand-shaker in the lineup. For the keepers of the dying manual light, it's been a long wait since the V12 Vantage S went out of production last year, but dawn will break over Gaydon in summer 2019. Aston Martin chief engineer Matt Becker told Road & Track at the Goodwood Festival of Speed that there'd be a stick shift in the V8 Vantage by "this time next year." That might seem like a long wait when there are already prototypes on the road, but the small company has a large engineering job. The Mercedes-AMG 4.0-liter twin-turbo V8 sitting in the Vantage's engine bay has never been paired with a manual gearbox, so Aston Martin has to create the software and the driveline hardware from scratch to make it work. On top of that, the company wants to make sure the package delivers the thrills the row-your-own crowd seeks. Becker said the car won't be a pushover, tuned so that "It reminds you that you have to know how to drive." Depending on uptake, one could hope that the DB11 using the same Mercedes-AMG engine would also undergo a manual transformation. Road & Track didn't get the details on what kind of transmission we could expect. We figure the options are a traditional six-speed, a Corvette-style seven-speed, a Porsche-style seven-speed, or the dogleg seven-speed used last in this year's V12 Vantage V600, of which there were only 14 units. Speculation on product plans puts the manual transmission first in the V8 Vantage pipeline, followed by a Vantage roadster and a V12 Vantage. Other models will certainly fill out the portfolio, Becker saying this first Vantage "is the starting point." Having applied the hardcore AMR moniker to the Valkyrie AMR Pro, DB11 AMR, and Rapide AMR, the Vantage seems a lock for the same extreme makeover. Related Video: