Aston Martin Plans To Raise Financing For Portfolio Expansion
Aston Martin is preparing to crowdfund the old-fashioned way — shares and bonds — its portfolio expansion, per sources close to the automaker.
Reuters reports the funds will be used to expand the Aston portfolio to include crossovers, hybrids and premium sedans, as well as add three years to the company’s ongoing recovery plan, with the planned deadline to come in 2020. The fundraising plan — based on debt- or equity-raising options made to current investors — would bring in £100 million – £150 million ($156 million – $234 million USD).
The news comes as Aston Martin bids farewell to 2014, which began with a recall of 17,590 units over counterfeit accelerator pedals from a Chinese supplier. Last month, the automaker was granted an exemption from United States safety regs for the DB9 and Vantage. It also gained a new CEO this year, when Andy Palmer left Renault-Nissan to take up where Ulrich Bez left off upon retirement in 2013.
Seattle-based writer, blogger, and photographer for many a publication. Born in Louisville. Raised in Kansas. Where I lay my head is home.
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How peripheral and insignificant must a manufacturer be before its model lineup becomes a "portfolio"?
Melody Lee's species is numerous.
Aston Martin, another "storied" brand with stale, outrageously priced & notoriously impractical and unreliable vehicles upon which Jeremy Clarkson can pontificate during a "best of Britain" special while filling the hearts & chests of all Brits with national pride (while Britain sinks further into its era of middle class wipeout & even more "British" companies being purchased outright by Indian, Chinese & Malaysian, et al firms).
They win on the track, all else is noise and distraction.