Aston Martin getting ready to announce new factory location image

British premium sportscar manufacturer Aston Martin, which is pursuing a recovery strategy that includes an expansion of the model line and production volumes, has narrowed down the list of potential locations for its upcoming new plant, says the company CEO.

Chief executive officer Andy Palmer talked to Reuters and said the deliveries of the current model lineup have dropped to 3,661 units last year from about 4,200 in the previous year and the prospects for the current don’t look overwhelmingly positive, with expectations for a minor uptick in volumes. Palmer became the chief executive officer of the loss-making luxury carmaker back in September 2014 and is now trying to implement a recovery strategy after sales were heavily damaged by the latest global financial crisis. Last week the company also announced it would seek to streamline its employee structure by restructuring non-manufacturing positions.

The turnaround plan also includes the introduction of greener, electric variants to the existing models and the addition of a crossover sport utility vehicle, previewed by the recently showcased DBX crossover concept. The plan also includes manufacturing 5,000 units of SUVs annually at a new assembly facility that would be separate from its current sole plant at Gaydon in central England.

Palmer announced the company has now cut the list of possibilities from 19 total locations to five or six sites, including Alabama in the US, eastern Europe, Wales and a site near the central English county of Warwickshire and the cities of Birmingham and Coventry. “If you’re going to build a plant then obviously you want to, generally speaking, put your plant into an assisted area so that you can reduce the risk and the burden,” he commented, referring to areas where governments provide support.

Via Reuters