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Canadian billionaire Lawrence Stroll leads $240 million Aston Martin investment

After months of rumors and speculation, Canadian billionaire Lawrence Stroll confirmed he led the purchase of a 16.7% stake in Aston Martin for GBP182 million ($239 million). The investment is part of a GBP500 million ($656 million) round of emergency funding that will help the British automaker overcome serious financial challenges. Yew Tree Overseas Limited, a consortium of international investors led by Stroll, built its stake by buying 45.6 million new ordinary Aston Martin shares on the London Stock Exchange, according to Autocar. Aston Martin raised the remaining GBP318 million ($417 million) by giving existing investors the opportunity to buy more shares, the BBC learned. It's not a full bailout, but it's close. Aston Martin ended 2019 in dire financial straits. Stroll will replace Penny Hughes as Aston Martin's chairman; CEO Andy Palmer is expected to keep his job. Several sources confirmed the Racing Point Formula One team owned by Stroll will be rebranded Aston Martin after the 2020 season, and Autocar reported the company will quickly need to eliminate jobs and slash costs. "The difficult trading performance in 2019 resulted in severe pressure on liquidity, which has left the company with no alternative but to seek substantial additional equity financing. Without this, the balance sheet is not robust enough to support the operations of the group," Hughes admitted in an interview with the BBC. Stroll's' appointment to the Aston Martin board comes as the company prepares to overhaul its product plan. It notably confirmed the rumors claiming it put the battery-powered Rapide project on the back burner until further notice, and it delayed plans to revive the Lagonda nameplate on a series of extra-luxurious electric vehicles until after 2025. The first car was originally scheduled to reach the market in 2022, but the battery technology is expensive to develop, and Aston must save about 10 million pounds (around $13 million) annually. The firm will instead focus on mid-engined sports cars. Still according to Autocar, it will begin delivering the 1,160-horsepower Valkyrie hypercar this year, and it's on track to launch the Valhalla in 2022. The Vanquish will go mid-engined shortly after. Delaying electric cars doesn't mean abandoning electrification, and Aston Martin hopes to release "a fuel-efficient, modular V6 engine with hybrid capabilities" by the middle of the 2020s.

Aston Martin hits the open water with Quintessence Yachts

We know, we know: life is tough. You drive your Aston Martin Vanquish Volante from your mansion to the yacht club, and then what? Just get on board any old yacht? Of course not. You're going to need an Aston Martin speedboat, and fortunately that's just what we have here. Born of a partnership among the British automaker, Dutch boatbuilder Quintessence Yachts, and the naval architects at Mulder Design, is the upcoming AM37. The speedboat, as you might have guessed, measures 37 feet long – which is a little more than two Rapides parked end to end (or nearly four Cygnets). Though there's only three images, we can already see the vessel's design takes cues from Aston's luxury GTs, particularly in the driving console. It looks a lot sleeker, at any rate, than the Voyage design we saw a few years ago, and at least as cool as the 20-foot speedboat Ian Callum designed to go with the Jaguar XF Sportbrake. Full technical details have yet to be released as well, but Quintessence says the vessel will feature a "hi-tech composite structure allied to luxury sports car-like handling, performance and comfort." It'll also incorporate voice control and touchscreen display for the navigation and multimedia system. The yacht will be offered in two versions: the AM37 with a top speed of around 50 knots (the maritime equivalent of 57 miles per hour) and the AM37 S that'll top out at 60 knots (nearly 70 mph). That's mighty fast on the open water, with no stop signs or traffic gridlock to slow you down. Just the waves on the open water. We don't know what will motivate the vessel to such speeds, but we're hoping for a marine version of Aston's signature 6.0-liter V12. Maybe even two of 'em. It wouldn't be unheard of, after all: Lamborghini has made boat engines, and a Ferrari-powered hydroplane set a longstanding record in the 1950s. Far more than the usual branded wristwatch or luggage, we're looking forward to seeing this one (quite literally) launch. Driven to succeed: Quintessence Yachts and Aston Martin • Exciting sports car firm association creates a series of unique powerboats • Stunning style, advanced technologies and exquisite craftsmanship • Highest standards of yacht design and construction 29 April 2015, Gaydon: Quintessence Yachts is today unveiling the first details of an exciting association with famous luxury British sports car maker Aston Martin which will result in the creation of a unique series of stunning new powerboats.

Aston Martin Vantage GT8 spied looking all fast on the 'Ring

Aston Martin keeps rolling out new versions of its long-serving Vantage, and we keep not complaining. This latest piece, spotted on the Nurburgring, looks particularly mean in matte black with a nice big wing on the back. We believe it to be the anticipated Vantage GT8, which should be the ultimate version of the V8 Vantage. The GT8 will follow in the footsteps of the Vantage GT12; its smaller engine should pack less of a punch, but the car will be lighter in the nose a V12 Vantage, which should help handling balance. Expect the 4.7-liter V8 to be retuned to produce more power than it has in any other Vantage: currently, the top V8 Vantage tops out at 430 horsepower, and we wouldn't be surprised to see the GT8 boast more like 450. That would still leave plenty of breathing room to the V12 models that start at 565. The aero package looks similar to the GT12's aggressive setup but incorporates several changes, including fewer cooling ducts and a reshaped front splitter, rear wing, and diffuser. Expect the interior to come stripped out like the GT12's. This top V8 Vatage ought to make a fine swan song for the eleven-year-old model line before its AMG-powered, turbocharged successor arrives. But don't expect to see too many of them – sources anticipate just 150 examples to be built, which is more than the 100 units of the GT12, but will still make this a rare bird indeed. Related Video: