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Aston Martin speeds ahead with October IPO worth perhaps $6.7 billion

LONDON — Luxury British carmaker Aston Martin is seeking a valuation of up to 5.07 billion pounds ($6.7 billion) from its stock market flotation and has taken steps to prepare for any eventuality over Brexit, it said on Thursday. The company, famed for making the sports car driven by fictional secret agent James Bond, said last month it was pursuing an initial public offering (IPO), the first British carmaker to do so for decades. The automaker will publish a prospectus later on Thursday and hopes to announce its final pricing on or around Oct. 3. It expects its shares to be admitted to the London Stock Exchange on or around Oct. 8. Carmakers have warned about the impact of any customs checks introduced as a result of a no deal or hard Brexit which could slow down production and add costs when Britain leaves the bloc in March 2019. The boss of Aston, which builds all its cars in Britain, said the company had boosted its stock of engines and components in case free and unfettered trade with the European Union ends in a few months' time. "We're up to five days of engine stock for example and we've got a very large warehouse in Wellesbourne (in central England) where we have at least five days of car stock," Chief Executive Andy Palmer told Reuters, an increase from the previous three days' worth of components held by the firm. "If there are tariffs ... for every car we lose because of a 10 percent tariff into Europe, we presumably pick up from Ferrari and Lamborghini in the other direction because obviously their cars become more expensive in the UK," he said. London and Brussels hope to conclude a Brexit agreement by the end of the year, but fellow carmakers such as BMW and Jaguar Land Rover (JLR) are worried that failure to agree could lead to snarl-ups at motorways and ports, disrupting production. JLR boss Ralf Speth warned last week that the wrong Brexit deal could cost tens of thousands of car jobs and risk production at the firm, Britain's biggest carmaker. Aston, which has set a price range of 17.50 pounds to 22.50 pounds per share for the 25 percent of stock it is floating, is targeting a market capitalization of between 4.02 and 5.07 billion pounds. The carmaker, which has long said it could pursue a listing, has undergone a turnaround plan since Palmer took over in 2014 as it boosts its volumes and expands into new segments with a new factory due to open in 2019.

Aston Martin-Red Bull 001 details: 175 units, $3M, 0-200-0 in 15 seconds

The Aston Martin AM-RB 001 is starting to sound like it will be the most extreme hypercar ever made. We're basing that on a series of new comments made by Red Bull Racing's resident aerodynamic genius and chief technical officer, Adrian Newey, in an interview with The Wall Street Journal's Dan Neil. Newey shared many interesting nuggets, so we'll try to provide a simple summary of how frighteningly potent the AM-RB 001 is. The new hypercar should hit 200 miles per hour in around 10 seconds, while a massive set of brakes will cut that speed to zero in half the time – in other words, zero to 200 to zero in just 15 seconds. That kind of stopping power sounds physically painful. Certain versions of the 001 will make up to 4,400 pounds of downforce, and if that's not enough to keep the car pasted to the pavement through 4G bends, Newey hinted that the active suspension will rely on the ground effect more than any other car. "I studied aero at the University of Southampton," Newey told Neil. "My final-year project in 1979 and '80 was on ground-effects aerodynamics applied to road cars and sports cars." Beyond the performance stats, Newey verified some of the broader questions about the 001's availability. For one, Aston Martin and Red Bull will build 175 examples of the potentially record-breaking hypercar, with 150 designated for road use and another 25 limited to the track – they're the ones that will enjoy the 4,400 pounds of downforce and full-on 4G cornering ability – so the chances you'll ever encounter a 001 in the wild are almost nil. And buying one? Plan on spending at least $3 million. Newey, along with Aston Martin Chief Designer Marek Reichman and Project Engineer David King, reveal more about the 001 in the piece, including some of the philosophical and design principles behind a $3M hypercar. It's very much worth a read, if you can get around the WSJ's pay wall. Related Video:

Mercedes to offer SL, GL platforms to Aston Martin?

The agonizingly slow courtship between Aston Martin and Mercedes-Benz has been a regular topic of conversation ever since the 2009 Lagonda Concept debuted, riding on a Mercedes GL chassis. Beyond that one polarizing concept, though, nearly every other attempt to pair the two brands up in a major way has fallen through. Only the technical partnership between Mercedes and Aston for certain components from AMG, which was negotiated back in July, has held up so far.
That may finally be set to change, according to an excellent profile of the two brands' relationship from Automobile, which claims that two platforms will unite the Germans and Brits. The first tie up is, not surprisingly, a sports car.
As Aston Martin's VH platform - which underpins every car that comes out of Gaydon - continues to age, the pressure will well and truly be on Aston to find a next-gen replacement to underpin the successors to the Vantage, Vanquish, DB9 and Rapide. Automobile claims Mercedes has just such an architecture, in the form its new modular sports car platform. This new platform is slated for the next-generation SLK and SL and is still in its design infancy.