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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.

2017 Aston Martin DB11 First Drive

England's history is filled with war. The last 70-plus years of peace and prosperity are an anomaly. Aston Martin, the nation's only independent carmaker, has similarly weathered strife – often of the financial variety – for most of its existence. Now Aston seeks stability. Its plan calls for new vehicles, a crossover even, and some electric propulsion for good measure. This is still a few years away. To get there, Aston will rely on its specialty, the sports car. Enter the 2017 Aston Martin DB11. While the company transitions, the latest in the DB line is already transformed. It's the successor to the 13-year-old DB9 (the DB10 was James Bond's car in Spectre) and has a new V12 with twin turbos cranking out 600 horsepower. The car is based on a new aluminum architecture that's lighter and stiffer than the DB9's, so the DB11 handles better. Naturally, the design is striking. That's not a cliche. Is all of this enough to sway some Ferrari, Porsche, and Bentley loyalists to Aston's fold? We've come to the gorgeous Italian region of Tuscany to find out. Taking the wheel on a sun-drenched morning, we head for Monte San Savino where a rustic lunch awaits. The V12 immediately grabs our attention. The note is buzzy at first, grows agitated, and then the sound morphs into a growling shout. Naturally aspirated engines are more visceral, but the DB11's turbo 12 is nothing to scoff at. The car sounds best in Sport Plus mode, which gives the engine and eight-speed transmission their most aggressive character. We lay on the throttle and the DB11 shoots forward, its long hood pointing the way through the countryside. The names of the villages roll off the tongue as the signs blur. Montisi. Montalcino. Trequanda. Florence and Pisa lay tantalizingly just outside of our route. Romantic as they sound, it's easy to resist Italy's magic. Its drivers are frickin' crazy. Thankfully, the DB11 has quick reflexes. The steering is moderately weighted, and the suspension stays flat and controlled even when we urge the car aggressively through tight curves. The sticky 20-inch S007 Bridgestone tires stay planted and keep us confident. Things only get unruly during hearty acceleration that causes the tail to come out. It happens rather easily. Most of the time the ride is a comfortable experience, as we expect from a grand tourer. With the sedate GT mode locked in, we examine the cabin. Our DB11 has subdued black leather accented by gold stitching.

Daniel Craig's personal James Bond Aston Martin is for sale

LOS ANGELES — James Bond is parting with his personal Aston Martin. Actor Daniel Craig, who has played the British spy known as 007 in four films, is auctioning for charity the limited-edition vehicle made for him by Aston Martin four years ago, Christie's auction house said on Thursday. Aston Martin cars have appeared in Bond films over nearly 50 years, beginning with 1964's "Goldfinger" in which Sean Connery drove a silver Aston Martin DB5. The brand has appeared in all four Bond films starring Craig. Craig's personal car is a 2014 Vanquish that Aston Martin produced just 100 examples of to celebrate its 100th anniversary. Craig's vehicle is, naturally, number 007. "It was an homage, really, to his career," Becky MacGuire, director of Christie's' The Exceptional Sale, said in an interview. "What he's brought to the Bond character has been so appreciated by the company and, of course, zillions of fans." The vehicle has a midnight blue exterior and dark blue luxury leather interior chosen because of Craig's preference for denim and dark colors, Christie's said. Proceeds from the sale will benefit New York-based charity The Opportunity Network, which helps students from disadvantaged communities achieve their college and career goals. Craig and his wife, actress Rachel Weisz, both sit on the organization's board of directors. The car's value is estimated at $400,000 to $600,000. It will be displayed at Christie's showroom in Los Angeles from Feb. 27 to March 3 before moving to New York, where it will be auctioned on April 20 as part of Christie's annual decorative arts masterpiece sale called The Exceptional Sale. Last year, Craig said he will reprise the role of James Bond one last time. The film is expected to be released in U.S. cinemas on Nov. 8, 2019.Reporting by Nichola Groom Related Video: