British luxury sports car manufacturer Aston Martin has been pledged by its top financial supporter the needed cash for investments into an eagerly anticipated updated model range.
Aston Martin, which is best known around the globe for its timeless association with the James Bond movie franchise, is among the few carmakers in the world to lack a major auto group backing – which has made it increasingly difficult to compete in today’s grueling auto industry. Nevertheless, the British marquee has plans to revealed an overhauled model lineup at the Geneva auto show in March. Investindustrial S.p.A., owner of 37.5 percent of Aston Martin’s shares since 2012, has now announced new cash investments into the automaker if needed, according to the private-equity firm’s chairman, Andrea Bonomi. He also added that Investindustrial has no intentions in selling the holding in the near future – disclosing that their investment needs to mature over a period of seven to 10 years.
“It hasn’t been decided yet, but if Aston needs capital, we’re there,” he commented. “Aston has an industrial plan which is growing in its ambitions and we have always planned to participate in all funding needs.” Aston Martin was a year without a chief executive officer and Bonomi supported the recruitment of Andy Palmer, Nissan’s former chief planning officer. The Gaydon, England-based automaker has other main shareholders such as Kuwaiti companies Investment Dar and Adeem Investment Co. Daimler also acquired a five percent stake in the company in exchange for supplying parts such as engines and automotive electronics.
Via Automotive News Europe