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A logo on the new Aston Martin DBX at the new Aston Martin Lagonda factory in Barry, Wales, Britain February 21, 2020. The company will produce only 38 units of the Valiant, a vehicle designed by the Aston Martin team alongside Formula One driver and two-time world champion Fernando Alonso. Alonso is one of Aston Martin Aramco Formula One Team's drivers, alongside Stroll's son, Lance. Aston Martin Racing and Aston Martin Lagonda are distinct entities. New Tab , opens new tab
Persons: Aston Martin DBX, Aston Martin, Rebecca Naden, Fernando Alonso, Lawrence, Valiant, Alonso, Aston, Stroll's, Lance, Aston Martin Lagonda, Yadarisa, Devika Organizations: REUTERS, Aston, Formula, Reuters, Aston Martin Aramco, One, Aston Martin Racing, Thomson Locations: Barry , Wales, Britain, British, Saudi, Bengaluru
Company shares had plunged by as much as 20% in earlier trade. Aston Martin reported an adjusted operating loss of £48.4 million ($58.8 million) for the three months to the end of September and a net revenue of £362.1 million, below a company-compiled consensus of £370 million. "The DB12 production ramp up was temporarily affected as supplier readiness and integration of the new EE platform that supports the fully redeveloped infotainment system was delayed," Aston Martin said in its earnings report on Wednesday. Aston Martin Executive Chairman Lawrence Stroll said the launch of the DB12 has seen "extraordinary demand" and is bringing in new customers, with 55% of initial DB12 buyers new to the brand. "With the shares trading at a tenth of the level at which they listed in 2018, the optimistic comparisons Aston Martin made for itself with Italian rival Ferrari look as fanciful as they ever did."
Persons: Aston Martin, Lawrence, Aston, Russ Mould, AJ Bell, Aston Martin's, " Mould, Ferrari Organizations: Company, Aston, Aston Martin, Saudi Arabia's Public Investment Fund Locations: London
CNN —Formula One driver Lance Stroll will miss Sunday’s Singapore Grand Prix after the Canadian suffered a huge crash in Saturday’s qualifying, his Aston Martin team said. In a statement on Sunday, the team said the 24-year-old was “still sore” and that repairing the car was a “huge job.”Lance Stroll crashes during the qualifying. “Our priority now is that he makes a full and speedy recovery. Stroll is ninth in the drivers’ championship. The Japanese Grand Prix takes place on September 24.
Persons: Lance, Aston Martin, , Mohd Rasfan, Mike Krack, ” Lance, Caroline Chia Organizations: CNN, Singapore, Prix, Canadian, Getty Locations: AFP
Aston Martin stock soars after $295 million Geely investment
  + stars: | 2023-05-18 | by ( ) www.reuters.com   time to read: +2 min
May 18 (Reuters) - Aston Martin's (AML.L) stock popped nearly 22% on Thursday, after the luxury carmaker announced a 234 million pound investment by China's Geely (0715.HK), that will see the automotive firm become its third-largest shareholder. Geely will acquire about 42 million ordinary shares from Chairman Lawrence Stroll's Yew Tree, which is currently the Aston Martin's largest stakeholder, at 335 pence apiece and subscribe for another 28 million shares at the same price. Aston Martin shares, which closed at 231.2 pence on Wednesday, were trading up to 279.4 pence at 0727 GMT. "Our decision to increase our shareholding in Aston Martin reflects our confidence in the company's growth prospects, its technologies and its management team," said Geely Chairman Eric Li. The investment gives Geely a 17% stake in the company and entitles it to one board seat, behind number two shareholder Saudi Arabia's Public Investment Fund (PIF).
Aston Martin boss Lawrence Stroll suggested the firm made up to $80 million selling F1 safety cars. The CEO took control of Aston Martin in 2020, but it's failed to recover massive share price losses. Aston Martin's boss suggested the carmaker might have gotten an $80 million boost from its car featuring in Formula One races. That would suggest Aston Martin has taken between $60 million and $80 million worth of sales linked to its safety car. Stroll's son Lance is a driver on his Aston Martin team, alongside two-time world champion Fernando Alonso.
Leclerc completes Baku pole hat-trick for Ferrari
  + stars: | 2023-04-28 | by ( Alan Baldwin | ) www.reuters.com   time to read: +4 min
The pole, in a session twice red-flagged early on due to crashes, was Ferrari's first of the Formula One season after Red Bull had qualified fastest in Bahrain, Saudi Arabia and Australia. Red Bull's championship leader Max Verstappen will line up alongside on the front row with his team mate Sergio Perez third. "It feels good...It's good to be back on top," said Leclerc after whooping in delight over the team radio. There was nothing to separate him and Verstappen after the initial flying laps, with both clocking one minute 40.445 seconds but the Red Bull driver on provisional pole due to setting his time first. "We must not forget that our car is probably behind the Red Bull, so it's going to be difficult to keep the lead.
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