Aston Martin has confirmed it is evaluating various funding options and is in talks with potential investors.
The publicly listed company is seeking additional outside investment to bolster its finances. The company’s share price has plummeted since flotation last year and it posted a GBP13.5m loss in the third quarter. It has also extended borrowing to help shore up its financial position. Last month it commenced sales of the DBX which is made at an all-new plant in Wales. The DBX takes Aston Martin to the super-luxury SUV market also being targeted by Bentley, Rolls-Royce, Lamborghini and Ferrari.
“The company confirms that it is reviewing its funding requirements and various funding options. It is also engaged in early stage discussions with potential strategic investors in relation to building longer term relationships which may or may not involve an equity investment,” the company said in a statement.
Earlier this month, Autocar magazine reported that billionaire Lawrence Stroll was looking to lead a consortium preparing a bid to buy a major stake in the luxury carmaker.
Aston Martin reported tough trading conditions this year, particularly in the UK and Europe. It has also been hit by weaker demand for the Vantage model, but has said DB11 sales are holding up.
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