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Aston Martin to open test center at Silverstone, British racing's Mecca

LONDON — Aston Martin will open a test and development center at Silverstone, the home of British Formula One racing, as the luxury carmaker continues to expand ahead of a possible stock market offering. James Bond's car brand of choice is undergoing a turnaround plan designed to boost its model lineup, quadruple volumes and produce its first sport utility vehicle at a new plant in Wales. The firm, which sponsors the Red Bull Formula One team, said its Silverstone site would open in October and employ 60 people. Many Formula One teams have been based close to Silverstone in central England, leading the area to become known as motorsport valley. Silverstone hosted the first Formula One championship race in 1950. "The company is now investing for growth across the Aston Martin and Lagonda brands," said Chief Executive Andy Palmer in a statement, also announcing the opening of a central London office. Aston said the new locations would help increase the firm's total workforce by over half to 5,000 by the end of 2022. After six years of losses, Aston Martin swung to a pretax profit in 2017, and the company has said it is considering a stock market IPO, which sources have told Reuters could come as soon as this year. Reporting by Costas PitasRelated Video:

Aston Martin DB11 V8 loses four cylinders but none of its grace

We love the Aston Martin DB11. Few vehicles combine speed, luxury, and comfort as well as that beautiful British coupe. That said, it's not the most efficient or affordable GT in the world, but Aston Martin is planning to change that. Starting this year, the company will offer the DB11 a twin-turbocharged V8 sourced from the mad Germans at Mercedes-AMG. We've known about the engine partnership for a while now, though we assumed the first Aston Martin to use a Mercedes-AMG V8 would be the next-generation V8 Vantage. At first, sticking a V8 under the hood might seem like an odd choice, but the DB series only recently started using V12s. Historically, the car has packed powerful inline-six engines. Offering two engines will allow the company to sell a lower-cost model and presumably boost sales. That means changes are strictly mechanical in nature. The engine is the now-common 4.0-liter twin-turbocharged Mercedes-AMG V8. Output is 503 horsepower and 498 pound-feet of torque. That's down 97 horsepower and 18 pound-feet of torque from the 5.2-liter V12. In the Mercedes-AMG C63 S, the 4.0-liter V8 makes equal horsepower and 18 more pound-feet of torque. Aston Martin says that the partnership with Mercedes-AMG allows the company to tailor the engine for Aston Martins. This means a new ECU with new engine and throttle mapping. Losing four cylinders changes the character of the car a bit. The DB11 V8 is a not-insubstantial 254 pounds lighter than the V12. Since most of the weight savings comes from behind the front wheels, Aston Martin says the V8 model is more agile than the V12 model. Engineers have adjusted the suspension bushing, geometry, anti-roll bars, springs, dampers, and stability control to account for the weight savings. The DB11 V8's diet helps offset the lower power output. As such, the 4.0-second 0-62 sprint is just 0.1 seconds off the V12. Top speed is down 13 mph to a still extralegal speed of 187 mph. We don't have fuel economy ratings for the US, but expect an improvement from the V12's current rating. The V8 will be available with all of the same equipment and trims as the V12, with just a few visual changes to distinguish the two models. The V8 gets unique wheels, darker headlight surroundings, and just two vents on the hood, available in either black or titanium. The DB11 V8 goes on sale in the US later this year. At $198,995, it undercuts the V12 model by $17,500.

Aston Martin and Mercedes-Benz expand collaboration

Aston Martin on Tuesday expanded a deal with Daimler to access the German automaker's technology, including its hybrid and electric drive systems, in exchange for new shares as the struggling British luxury carmaker's new boss drives changes. The company will place 250 million new shares with new and existing institutional investors at 50 pence (currently around 65 cents) a share, said the 107-year car maker that hired Tobias Moers, former CEO of Mercedes-AMG, to become its boss from August. The new shares issued would increase the size of Mercedes-Benz's stake to no more than 20% by 2023 from the current 2.6% in several stages. "We take another major step forward as our long-term partnership with Mercedes-Benz AG moves to another level with them becoming one of the Company's largest shareholders," said Chairman Lawrence Stroll. The German firm would get the right to nominate one non-executive director to Aston Martin's board after its first shareholding increase. The James Bond car maker, which has started deliveries of its first sport utility vehicle, the DBX, reported third-quarter adjusted core loss of 29 million pounds compared with a profit of 43 million pounds last year and revenue that nearly halved to 124 million pounds. Related Video: