Aston Martin Safe Thanks To New Saudi Investment Deal | Carscoops carscoops
Aston Martin has struggled intermittently throughout its 109-year life and has been bankrupt multiple times. The company’s shares have fallen almost 73 percent this year, and it was saddled with £957 million of debt at the end of March. Aston will use its newfound riches to repay debt and invest in future products. Those new products will include the company’s first EV, which will be based on a Mercedes platform and running gear, and is expected to launch in 2025.
“Today’s announcement marks the latest success in the evolution of Aston Martin, the restoration of the business and balance sheet we inherited, and the acceleration of our long-term growth potential,” Aston chairman Lawrence Stroll said. “It transforms our balance sheet, liquidity and cashflow profile and provides greater clarity on our pathway to become sustainably free cash flow positive and create significant shareholder value.”
One other Aston revelation to come out today is the news that the company rejected a £1.3 billion investment offer from Atlas Consortium, and group consisting of Chinese company Geely and Investindustrial,
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