After Lamborghini and Rolls Royce, Aston Martin plans to build its first SUV. It was reported that the company was analyzing to merge with another company or to operate independently.
According to Reuters, some in the global car industry turn to partnerships, alliances or mergers to handle the challenge of electrification, new technology, and tighter margins, Autocar magazine reported on Thursday that Stroll, the owner of Formula One team Racing Point, is preparing to buy a major stake in Aston.
Last month Aston, which floated in October 2018, launched its DBX model, hoping that more female buyers will help boost sales after posting a pre-tax loss of 92.3 million pounds ($118 million) for the first nine months.
It hopes its new factory, in St Athan, near Cardiff, will help turn around its fortunes. The plant is it’s second alongside its historic one in Gaydon, central England.
Reuters reported that, as the autos sector consolidates through deals such as the merge of Peugeot and Fiat, Aston has said it does not need to belong to a bigger automotive group, pointing to the success of stand-alone rival Ferrari.
the company stated that, the small stake held by Germany’s Daimler allows Aston to have access to technology and benefit from the speed at which it can operate independently.