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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 Vengeance embodies the wrath of Kahn

Kahn Design, for those unfamiliar, is a British customizer that's known primarily for modifying Land Rovers. And it brought a few of those with it to the Geneva Motor Show this year as well, particularly a rebodied DB9 called the Vengeance. The lines follow a familiar form that still speaks of its underpinnings, but the details have all been worked over: the grille is bigger, the front fenders are wider, the hood has a bulge in it, the C-pillars and rear haunches are wider, the horizontal taillights have been replaced by more retro round units, and the wheels take their inspiration from a roulette table. The result is described as "the conclusion of British designer Afzal Kahn's lifelong pursuit to design the car he has always wanted to drive," and comes with Aston Martin's blessing – or at least its acquiescence: "There is a long and rich history of specialist coach-built Aston Martins," said the company's purchasing director Gary Archer, "and we wish Kahn every success with the Vengeance." The cost of converting a DB9 to Vengeance spec has yet to be announced, but according to the statement below, it " is expected to represent extremely good value for a limited edition coach built car." Related Video: THE KAHN VENGEANCE MAKES ITS INTERNATIONAL DEBUT AT THE GENEVA MOTOR SHOW 2016 The 2016 Geneva Motor Show will see the long awaited launch of the Kahn Vengeance, a new coach built two-door coupe which represents a stunning synthesis of modern engineering and classic streamlined design. The Vengeance will be unveiled to the media at the Kahn Design stand, 6338, on March 1st 2016. Inspired by the Aston Martin designs of the 1980s and 90s, the Vengeance is the conclusion of British designer Afzal Kahn's lifelong pursuit to design the car he has always wanted to drive. Designed to hark back to the glory days of British coach building, the hand built Vengeance is a coachbuilt two door coupe based on a new Aston Martin DB9 chassis. Face on, the redesigned front bumper and wide spaced grille give the Vengeance an aggressive look, framed by widened front wings which merge seamlessly into the doors. The signature central bulge of the bonnet continues to the highly defined lines of the roof, which flow outwards to the widened C-pillars and rear wings, lending a muscular definition to the car's surfaces.

AMG's partnership with Aston Martin won't extend past engines, for now

There's been talk of late about the technical partnership between Aston Martin and the AMG division of Mercedes-Benz going beyond engines to include Mercedes sports car and SUV platforms for the English brand, perhaps as a way to kickstart the development of a Lagonda SUV. But AMG CEO Tobias Moers, speaking to Top Gear, said that's effectively out of the question because, "No one has the time to discuss any more involvement than that for now."
Moers believes Aston Martin will be so busy "for the next two to three years" integrating its AMG-sourced engine and electronics that it won't have the resources to devote to working out a platform-sharing deal; Daimler sources have already said that Aston Martin's development budget "just isn't enough" to even consider a whole new model, and that greater cooperation would require something like a larger ownership stake in the boutique sports car maker.
AMG, in the meantime, is busy with the recent launch of the GLA45 AMG, the coming C63 AMG and its rumored 4.0-liter V8, the Mercedes-AMG GT and its assault on the Porsche 911 among who-knows-what other skunkworks projects. Moers said the technical partnership is about profit for AMG, clear and simple, and, "All these rumors about platform sharing are nice but no one at Aston or Mercedes has the time to discuss them."