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Billionaire Lawrence Stroll took control of British luxury car maker Aston Martin on Monday amid a coronavirus pandemic. The objective is to prepare for a resumption of production by the British manufacturer in financial difficulties.
The Canadian businessman becomes executive chairman of James Bond’s favorite brand after taking a 25% stake in the capital.
“Our most pressing objective is to plan for a restart of our factories, in particular to start production of the brand’s first SUV, the DBX, and to revive the entire organization,” he said in a statement. communicated.
He spoke of “the most difficult global environment we have ever known“.
Aston Martin, like all manufacturers in the United Kingdom, shutdown last month its sites in Gaydon (central England) and St Athan (Wales) while resorting to short-time working.
The manager also confirms that, once production resumes, prioritize demand over supply, which should push him to limit the number of cars sold and increase their prices.
The billionaire, who built his fortune by investing mainly in fashion brands, fled to the aid in January of Aston Martin who was experiencing an erosion of its sales and great financial difficulties.
The rescue also calls for Mr. Stroll’s F1 team, Racing Point, one of the drivers of which is Lance Stroll, the billionaire’s son, to take the name of Aston Martin starting in the 2021 season.
“Aston Martin will take its place on the Formula 1 circuits as a team for the first time in more than 60 years,” said Stroll.
Read also > CORONAVIRUS CRISIS: ASTON MARTIN AT RISK?
Featured Photo : © Allen McInnis / Montreal Gazette[/vc_column_text][/vc_column][/vc_row]
