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Aston Martin Shareholder Vows Funding to Back New Products
London-based private equity firm Investindustrial, which owns 37.5% of Aston Martin Lagonda Ltd., tells Bloomberg News it will provide the iconic British luxury carmaker with "all funding needs" to keep its product development plans on schedule.
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London-based private equity firm Investindustrial, which owns 37.5% of Aston Martin Lagonda Ltd., tells Bloomberg News it will provide the iconic British luxury carmaker with "all funding needs" to keep its product development plans on schedule.
Investindustrial saved Aston Martin from collapse in 2012 by investing 150 million (€200 million) in the company. Daimler AG's Mercedes-AMG unit acquired a 5% stake a year ago in exchange for agreeing to supply the British carmaker with engines and electronics.
Aston Martin is implementing a four-year, 500 million (€668 million) program to develop next-generation models and expand its portfolio. Declares Investindustrial Chairman Andrea Bonomi to Bloomberg, "If Aston needs capital, we're there."
The company hopes to boost its global sales to 7,000 units by 2016 from 4,200 in 2013. Reports last summer said the company plans to revive its Lagonda nameplate for a limited-edition sedan priced at about €195,000.