• Sign in to follow this  
    Followers 0

    Aston Martin Sells 37.5% Stake To An Italian Firm


    William Maley

    Staff Writer - CheersandGears.com

    December 7, 2012

    Today, Aston Martin announced that Italian private equity firm Investindustrial has purchased a 37.5% stake in the company for $241 million. Kuwaiti firm Investment Dar still holds a majority stake in the company. Aston Martin said the deal would allow them to pour $1 billion into new product, funding development through 2018.

    Investindustrial beat out Indian truck and tractor producer Mahindra and Mahindra. Andrea Bonomi, Investindustrial's senior principal said that the group hopes to transform Aston Martin in a similar way to its revamp of Italian motorcycle company Ducati by expanding Aston's model range and strengthening its global dealership network.

    Analysts are skeptical about this deal, saying that Investment Dar was trying to lure an automaker to buy up Aston and is settling with a temporary fix.

    "It doesn't look like a long-term solution. This deal doesn't sort scale, access to technology, emissions or entry to new segments," said Bernstein analyst Max Warburton to Reuters.

    Source: Reuters

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

    0


      Report Article
    Sign in to follow this  
    Followers 0


    User Feedback




    Your content will need to be approved by a moderator

    Guest
    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   You have pasted content with formatting.   Remove formatting

    ×   Your link has been automatically embedded.   Display as a link instead

    Loading...



  • Popular Stories

  • Today's Birthdays

    1. §carlet §wordfish
      §carlet §wordfish
      (27 years old)
  • Similar Content

    • By William Maley
      We weren't expecting this: Nissan, the automaker who discovered the manipulation of fuel economy figures at Mitsubishi Motors, is currently in the final stages of buying a controlling stake into the company.
       
      According to reports from NHK and the Nikkei Asian Review, Nissan will spend roughly 200 billion Yen (about $1.8 billion) to acquire over 30 percent interest in Mitsubishi Motors. This would make Nissan the largest shareholder in the company, surpassing Mitsubishi Heavy Industries, which currently has a 20 percent stake.
       
      This news comes after Mitsubishi announced that all of its models sold in Japan since 1991 may have inflated fuel economy numbers. Since the scandal came to light, shares in Mitsubishi Motors have dropped 43 percent. Sales of Mitsubishi vehicles in Japan have also taken a turn for the worse. Mitsubishi Motors says they have enough money to cover the scandal and will not seek help from Mitsubishi group companies.
       
      Why would Nissan want a controlling stake in Mitsubishi? A couple of reasons. One, Mitsubishi vehicles are very popular in markets such as Thailand and Indonesia. In fact, Asia makes 50 percent of the company's group operating profit. There is also talk about the two cooperating on electric vehicles.
       
      Both companies will hold board meetings tomorrow to discuss the capital tie-up and how the shares will be distributed.
       
      Source: Bloomberg, NHK, Nikkei Asian Review
       
      UPDATE: Both Mitsubishi and Nissan confirmed they are in talks this morning in Japan.
       
      "Nissan and Mitsubishi are discussing various matters including capital cooperation, but nothing has been decided," according to statements released by both companies.
       
      Reuters confirms that the board of both companies will be holding separate meetings today to discuss this issue.
       
      Source: Reuters


      Click here to view the article
    • By William Maley
      We weren't expecting this: Nissan, the automaker who discovered the manipulation of fuel economy figures at Mitsubishi Motors, is currently in the final stages of buying a controlling stake into the company.
       
      According to reports from NHK and the Nikkei Asian Review, Nissan will spend roughly 200 billion Yen (about $1.8 billion) to acquire over 30 percent interest in Mitsubishi Motors. This would make Nissan the largest shareholder in the company, surpassing Mitsubishi Heavy Industries, which currently has a 20 percent stake.
       
      This news comes after Mitsubishi announced that all of its models sold in Japan since 1991 may have inflated fuel economy numbers. Since the scandal came to light, shares in Mitsubishi Motors have dropped 43 percent. Sales of Mitsubishi vehicles in Japan have also taken a turn for the worse. Mitsubishi Motors says they have enough money to cover the scandal and will not seek help from Mitsubishi group companies.
       
      Why would Nissan want a controlling stake in Mitsubishi? A couple of reasons. One, Mitsubishi vehicles are very popular in markets such as Thailand and Indonesia. In fact, Asia makes 50 percent of the company's group operating profit. There is also talk about the two cooperating on electric vehicles.
       
      Both companies will hold board meetings tomorrow to discuss the capital tie-up and how the shares will be distributed.
       
      Source: Bloomberg, NHK, Nikkei Asian Review
       
      UPDATE: Both Mitsubishi and Nissan confirmed they are in talks this morning in Japan.
       
      "Nissan and Mitsubishi are discussing various matters including capital cooperation, but nothing has been decided," according to statements released by both companies.
       
      Reuters confirms that the board of both companies will be holding separate meetings today to discuss this issue.
       
      Source: Reuters
    • By William Maley
      A couple months back, we reported that Aston Martin is working on electric version of the Rapide to deal with stricter emission standards and increased competition from the Tesla Model S. Today, we get our first glimpse at what that might look like.

      The RapidE concept may look like your standard Rapide on the outside - aside from the somewhat goofy graphics. But underneath is where a new electric powertrain developed with Williams Advanced Engineering. Now technical details on the RapidE concept are non-existent. But Autocar was able to gleam some powertrain information on a possible production model from CEO Andy Palmer. The first model will produce around 550 horsepower - a similar number to the current Rapide - and have an overall range of 200 Miles. The second model will be super-performance version with an electric motor on each wheel. Total output is expected to be around 800 to 1000 horsepower.

      Along with the debut of the RapidE concept, Aston Martin announced a new deal with Chinese investment firm ChinaEquity to explore the possibility of putting the RapidE concept into production. If its given the green light, we could be seeing a production model in about two years time.

      “We see luxury electric vehicles as an intrinsic part of our future product portfolio and welcome ChinaEquity into the next phase of study for the project development. The exciting RapidE concept tangibly demonstrates the capability and ambition of Aston Martin towards developing low- and zero-emission sports cars," said Palmer in a statement.

      Source: Aston Martin, Autocar



      http://youtu.be/uPHWfahHRi8

      Press Release is on Page 2



      Aston Martin Unveils Electric Concept Rapide During State Visit
      World debut of Aston Martin full electric RapidE concept Chinese investors engaged in study towards first all-electric Aston Martin Aston Martin and ChinaEquity to explore concept’s production potential
      21 October 2015, Gaydon: Aston Martin is today showcasing a fully electric concept of its Rapide S four-door sports saloon outside Lancaster House in London – the venue for a meeting between Their Royal Highnesses Prince William, Duke of Cambridge; Catherine, Duchess of Cambridge and President of The People’s Republic of China, Xi Jinping.

      The new RapidE concept has been developed in collaboration with Williams Advanced Engineering at its facility in Grove, Oxfordshire. It is on display today in support of a creative summit organised by the British government’s successful GREAT campaign to showcase the best of what the UK has to offer and encourage people to visit, do business, invest and study in this country.

      Aston Martin CEO, Dr Andy Palmer, said: “We see luxury electric vehicles as an intrinsic part of our future product portfolio and welcome ChinaEquity into the next phase of study for the project development.

      “The exciting RapidE concept tangibly demonstrates the capability and ambition of Aston Martin towards developing low- and zero-emission sports cars.”

      During the Lancaster House event, Aston Martin and Chinese investment group, ChinaEquity, announced an agreement to explore the development of a production version of the RapidE concept. If successful, the new luxury sports car would be constructed at Aston Martin’s global HQ in Gaydon, Warwickshire, and could be brought to market in around two years.

      On the signing of this agreement, Chairman Chaoyong Wang of ChinaEquity said, "We are delighted that Aston Martin not only provides a high performance driving experience to customers, but also show’s their social responsibility by showcasing a new generation of electric car with zero emissions. We are excited to participate in the development of the RapidE and to make a contribution to Sino-British clean energy and green environmental strategy. We feel confident that there are significant opportunities for electric cars in China and the world."

      Chancellor of the Duchy of Lancaster Rt Hon Oliver Letwin MP who has supported the development of the project said: “Aston Martin is an iconic British brand, and I welcome their agreement today with ChinaEquity. It is a great example of British and Chinese businesses working together to develop links and bring benefits to the UK economy. It also demonstrates how a collaboration between the UK and China can develop the innovative low emission solutions needed to tackle the pressing global issue of air quality.”
    • By William Maley
      Aston Martin is readying their own electric vehicle. Speaking with Automotive News at the Pebble Beach Concours d’Elegance, Aston CEO Andy Palmer revealed that the British sports car maker will be launching an all-electric version of its four-door Rapide in the next two years.
       
      The emphasis on electric cars for Aston Martin is being driven by two key factors; emissions and competition from the Tesla Model S.
       
      “If you want to keep making V-12 engines, then you’ve got to do something at the opposite end of the spectrum,” said Palmer.
       
      This is important in markets in China where emission standards are becoming stricter for V8 and V12 engines.
       
      Also, Aston Martin is going on the offensive. Palmer points to the Tesla Model S and says there is an opportunity for a sexy and powerful electric car to sit above the P90 D, Tesla's most powerful model.
       
      “What Tesla clearly shows you is we haven’t hit the ceiling in terms of price. But I think it’s hard, though not impossible, for them as a relatively new brand to keep pushing up and to go into that super premier area,” said Palmer.
       
      Palmer did give some details of what he hopes for the electric Rapide: 800 horsepower, all-wheel drive, a range of 200 Miles, and a pricetag around $200,000 to $250,000.
       
      Source: Automotive News (Subscription Required)
    • By William Maley
      Aston Martin has an interesting plan when it comes time to replace the somewhat old Rapide. Car and Driver spoke with Aston Martin CEO Andy Palmer who said they have two new models that will take the place of the Rapide; a new crossover and a sport sedan wearing the Lagonda nameplate.
      “However, we have a [further] business plan, and within that there’s three legs to the strategy. First is replacing the entire sports-car range; second is the DBX, and that appeals to a different set of audiences; and the third is the sports sedan, which will carry that beautiful badge,” (Lagonda label pin on his coat) said Palmer.
      First off is a production version of the DBX concept shown at the Geneva Motor Show. Whereas the concept looked like a V8/V12 Vantage with an increase in ride height and electric powertrain, the production model will go with a five-door style and come powered with either a gas and plug-in hybrid powertrain.
      As for the new sport sedan wearing the Lagonda name, this isn't the current sedan known as the Lagonda Taraf that will be sold in Middle East and a few other markets. Instead it will be an all new model.
      Source: Car and Driver
  • Recent Status Updates

  • Who's Online (See full list)

    There are no registered users currently online