Aston Martin CEO Ulrich Bez said that he hopes Investindustrial will help the automaker expand its market presence and launch its next generation sports cars.
Aston Martin plans to invest $1 billion in new technology and products, after Investindustrial, the Italian private equity fund, purchased a 37.5% stake in the automaker through a capital increase agreed by majority owner Investment Dar.
“First of all it brings the money to the company, which we can use for the next generation of products from 2015 to 2025,” said Bez. “And of course I would expect that they also have know-how and feeling for products for five years or 10 years into the future. I expect that the Italians bring a lot of experience.”
The maker of the DB9 and Vanquish sports cars has been struggling over the past years with decreased demand and sales, selling 2,340 vehicles last year from January to September, a decrease of 19% from 2011.
Although some investors are concerned about Investindustrial’s involvement in Aston Martin, Bez said that this move will only allow the automaker to invest in new technology and products up to 2018. Aston Martin also plans to expand in China in the near future and have a ‘strong hold’ on the country.