Anyone else with a few extra million laying around?
Aston Martin has certainly had its fair share of financial troubles over the past several months, but it appears things are finally getting back into shape. As we already know, Canadian billionaire investor Lawrence Stroll led a group of investors to buy a significant stake in the automaker with a total investment of $657 million. Part of the deal involved making Stroll the firm's executive chairman, and he has since hit the brakes on the push into electric vehicles.
At the same time, Aston Martin's entry into Formula 1 has been confirmed. But now there appears to be yet another investor joining the club, and he happens to be Switzerland's richest man.
Bloomberg reports that Ernesto Bertarelli has acquired a 3.4 percent voting stake in the carmaker. Bertarelli's wealth comes from his family's pharmaceutical business but has since reinvested a bulk of that into commercial real estate assets in Europe and a technology-focused venture capital fund.
Aston Martin hasn't issued an official statement regarding the matter as sources learned this information from a regulatory filing last Friday. What does this mean for Stroll's future plans? More than likely, nothing will change. This is likely the case of another wealthy private individual who found a good business opportunity.
New models such as the Aston Martin Valhalla and Valkyrie are still on schedule, though the coronavirus pandemic could potentially alter those plans. Just last week, it was revealed the firm will soon begin phasing out its Mercedes-AMG-sourced 4.0-liter twin-turbo V8 engine in favor of its own in-house-developed twin-turbo hybrid V6.
Aston CEO Andy Palmer promises this engine, the company's first-ever V6, will deliver V12-levels of power and be even more fuel-efficient. Following the Valhall, it will power new Aston Martin DBX SUV and Vantage. Its production is also set to take place in the UK. At the same time, Aston's 5.2-liter twin-turbo V12 will see continued life despite the V8's departure. However, the V12 will be receiving an update with hybrid tech taken directly from the V6.
These plans, along with the foray into F1, it's no wonder Aston Martin has become an appealing investment, for those who can afford to, of course.