Aston Martin plans to reach a decision before Christmas on the location of a new factory that will manufacture its new crossover.

The company will choose between one site in the US and two in the UK for the new plant which is expected to start operations by late 2017.

Before Christmas, the automaker also plans to lay off 300 workers as part of a major restructuring. These job losses would be in the technical and administrative departments, AutoExpress reported.

Chief executive Andy Palmer said: "Our workforce has doubled since 2007 but we are building half the number of cars, it does not make sense. We need to make our processes more efficient with less people, we are fixing the business."

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