Investors are confident in the British luxury sports car manufacturer Aston Martin Lagonda Ltd., even though the company still posts losses and only expects to come to the “green” are in 2016.
Looking to take advantage on the image capital that was built over the 100 years plus history of the UK automaker, the company that was consistently featured and associated with James Bond movies looks to keep its independence by focusing on the technology that would upgrade into the twenty-first century the classic art of hand made manufacturing.
“A buck travels farther with us,” said Chief Financial Officer Hanno Kirner. “As of today, we are fully funded on our way to sustainable profitability.”
Aston and other small carmakers, “will have the biggest problems to survive independently, because they can’t afford innovations for the future,” said Thomas Weber, an executive at investment partner Daimler. “Innovations require a lot of money and know-how.”
All the company’s models are still assembled manually, cutting the need for expensive production equipment, but as the company – which surprisingly manages to avoid being part of a large automotive group – is preparing its biggest investment program in history – worth 500 million pounds ($845 million) – they also prepare to upgrade the hand building “technology” to keep up with the introduction of new models.
One key move was the technological partnership with Daimler, which allows Aston to give the Germans as much as 5% of the company’s shares in exchange for the possibility to underpin its new models with Mercedes’s AMG performance unit V8 engines.
by Aurel Niculescu
) - Wednesday, May 14th, 2014 - filed under Aston Martin
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