Aston Martin Gets Cash Support for Lineup Overhaul
Aston Martin plans to overhaul its entire lineup in the near future and cash backing for the project will not be an issue.
The money is coming from Investindustrial S.p.A., the British automaker’s main financial backer which owns a 37.5 percent stake in Aston. “Aston has an industrial plan which is growing in its ambitions and we have always planned to participate in all funding needs that Aston has,” Andrea Bonomi, the chairman of Investindustrial told Auto News Europe. “It hasn’t been decided yet, but if Aston needs capital, we’re there.”
Unlike every other supercar maker, Aston Martin isn’t part of a larger group of auto companies, making it harder for the Gaydon, England-based manufacturer to fund research and development. Daimler is another company working with Aston. In exchange for a 5 percent stake, Daimler will provide Aston Martin with high-performance AMG engines along with automotive electronics systems.
SEE ALSO: Aston Martin Signs Deal to use Mercedes-AMG Engines
This backing signals that Investindustrial is committed to staying with Aston Martin and intends to for at least seven to ten years.
Details on exactly what this lineup overhaul entails will be revealed at the upcoming Geneva Motor Show. An Aston Martin SUV is rumored to be in the pipeline.
[Source: Auto News Europe]
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Stephen covers all of the day-to-day events of the industry as the News Editor at AutoGuide, along with being the AG truck expert. His truck knowledge comes from working long days on the woodlot with pickups and driving straight trucks professionally. When not at his desk, Steve can be found playing his bass or riding his snowmobile or Sea-Doo. Find Stephen on <A title="@Selmer07 on Twitter" href="http://www.twitter.com/selmer07">Twitter</A> and <A title="Stephen on Google+" href="http://plus.google.com/117833131531784822251?rel=author">Google+</A>
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