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Billionaire Lawrence Stroll reportedly seeks major stake in Aston Martin

LONDON — Canadian billionaire Lawrence Stroll, owner of Formula One team Racing Point, is preparing a bid for a major stake in Aston Martin, Autocar magazine reported, sending the carmaker's battered share price up nearly 15% on Thursday. The British sports car maker's share price has slumped since its initial public offering in October last year. The shares launched at 19 pounds ($24.50) before dropping for months and languishing at around 5 pounds for weeks as sales have failed to meet expectations. Its major shareholder is Strategic European Investment Group from Italy, which holds about a third of the company. Stroll is the father of Formula One driver Lance Stroll, and is also famed for his car collection, regarded as one of the best collections of Ferraris in the world. Stroll is heading up a consortium looking to take a "major shareholding" in Aston Martin, Autocar said on Thursday. Two weeks ago, Aston unveiled the DBX, its first SUV, and is pinning its hopes on the model's success. Aston Martin declined to comment. Racing Point did not immediately respond to an emailed request for comment. The carmaker's shares were up nearly 15% at 5.79 pounds Thursday.  

Aston Martin recalling all DB11s over Daimler steering column

Aston Martin has become the latest carmaker to be caught up in a major recall of faulty Daimler steering-column components that can cause unintended airbag deployments. The British sports car maker is recalling all 3,873 DB11 coupes built since late 2015, when production of the flagship model began, Aston Martin spokesman Kevin Watters confirmed. He said repairs would be carried out to "address an issue with the DB11 steering column upper." Daimler last year recalled more than 1 million Mercedes-Benz cars fitted with steering-column parts also supplied to Aston and Nissan. The Japanese carmaker's Infiniti brand recalled 17,500 affected vehicles. The issue is unrelated to a global recall of faulty Takata airbag inflators that have been blamed for 20 deaths. Inadequate grounding in the Daimler units leaves their circuitry vulnerable to electrostatic charges that can trigger unintended airbag deployments, according to earlier warnings. Mercedes reported "a handful of instances where drivers suffered minor abrasions or bruises" as a result of the problem. No Aston Martin customers have reported any such incidents to date, the company said, adding the necessary repair work would be carried out free of charge in less than two hours. Reporting by Laurence FrostRelated Video:

Weekly Recap: Electric Rapide concept showcases Aston's future

Aston Martin showed off an all-electric Rapide S prototype this week and announced an agreement with investment firm ChinaEquity to explore development of a production version of the sports sedan. The car could arrive in about two years if the project advances, and it would be built in Gaydon, England. The concept car, called the "RapidE" was developed with Williams Advanced Engineering. The electric Rapide is meant to highlight British innovation, and it was revealed during a state visit by Chinese president Xi Jinping to the United Kingdom. Spec were not available for the concept on display. "The car we showed in London is a fully running concept but not yet defining [of] our choice of battery, motor, inverter, etc," spokesman Simon Sproule said. "Now that we have a clearer path for producing the car, we will be defining all the parameters." Aston Martin has been vocal about its electric ambitions this year, and Sproule told us at the New York Auto Show that an all-electric Rapide could cost $200,000 to $250,000 or more. "It's a study, but we're serious about it," he said. Some reports have indicated the electric Rapide could pack as much as 1,000 horsepower. Aston considers electric technology the strongest play for modernizing its powertrains and meeting emissions standards around the world. Hybrids and all-electric models can offer high outputs and strong torque delivery, which is in keeping with the Aston's image as a sportscar maker. Company brass prefer this option over dropping down to four-cylinder engines. And yes, V8s and V12s remain part of the plan. The electric push is part of Aston's future strategy to remake its lineup, which includes refreshing its sportscars, building a production version of the electric all-wheel-drive DBX concept shown at the Geneva Motor Show, and adding a four-door Lagonda. OTHER NEWS & NOTES Domino's serves up purpose-built delivery car Domino's revealed a purpose-built pizza delivery car based on the Chevy Spark. It's called the DXP, for Delivery Expert, and it can handle up to 80 pizzas. The pies stay warm thanks to an oven located behind the driver's seat, and the DXP is sauced up with a puddle-lighting feature that projects the Domino's logo outside of the car. Power comes from the Spark's stock 1.2-liter four-cylinder engine rated at 84 hp that gets up to 39 mpg on the highway. Chevy dealers will be trained to service the DXP.