Aston Martin Claims It’s Not Actively Pursuing New Investors

Aston Martin says it is not actively pursuing new investors while opening its new factory at Saint Athan, Wales late last week.

Shortly after it emerged that Canadian billionaire and owner of the Racing Point Formula One team, Lawrence Stroll, was reportedly behind a consortium looking to buy a stake in the British automaker, Aston Martin chief executive Andy Palmer downplayed the claims to Reuters.

“You know what we would have to do if there was an official approach. Beyond that, I can’t comment,” he said. “We’re certainly not actively soliciting any other participation. That’s not to say it doesn’t come.”

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While Aston Martin is one of the few car manufacturers not owned by a larger automotive group, Palmer said that “there is a perfectly rational route to success in our current state,” downplaying the idea that to prove successful in the current automotive age the company cannot remain independent.

Based on last week’s report, it is understood that Stroll and other investors believe Aston Martin is undervalued and in a good position for the future. Following the recent launch of the DBX, which is expected to boost the company’s sales significantly, it’s easy to understand where the consortium is coming from.

Handling production of the DBX will be the St Athan production facility. Full production is being targeted for the second quarter of 2020. Aston Martin purchased the facility from the Ministry of Defense back in February 2016 and has since transformed it into a state-of-the-art factory. From 2022, the site will also handle production of models from the Lagonda brand.