Canadian billionaire Lawrence Stroll leads consortium to purchase stake of Aston Martin Lagonda after difficult trading conditions leave the car maker with no other choice but to seek outside funding.
Billionaire Lawrence Stroll. Credit: Getty Images
The
British marque whose shares are currently trading around 70% lower than their
IPO launch in 2018, has had a particularly tough time last year with current
chairman Penny Hughes stating “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.”
Sales of the Vantage have not met projections. Credit: Aston Martin
Billionaire Lawrence Stroll is confident however, that with the right investment and outside business acumen, the fortunes of Aston Martin can be turned around, saying “I believe that this combination of capital and my experience of both the motor industry and building highly successful global brands will mean that, over time, we fulfill Aston Martin Lagonda’s potential.”
Stroll, whose billions are largely attributed to early investments and subsequent business deals involving fashion brands like Tommy Hilfiger and Michael Kors, has long been affiliated with the car world.
His involvement dates back to the 90’s with the sponsorship of the Lotus racing team via his fashion brands, while 2000 saw the (family) purchase of the entire Canadian Mont-Tremblant race circuit and by 2018 Stroll was instrumental in the purchase of distressed Formula 1 team Force India (later renamed Racing Point).
Not to mention his extensive collection of vintage Ferrari’s
and rare cars.
It comes as little surprise that Stroll has now turned his attention towards the British marque in need of a helping hand, once again leading a consortium of international investors in the purchase 45.6 million newly issued shares at £4 (down from the IPO price of £19) to raise £182 million immediately, with further planned investment to bring their total equity investment to £235 million for a 20% stake in the company.
Lawrence Stroll’s investment will help deliver the Aston Martin DBX SUV. Credit: Aston Martin
Aston Martin themselves are also planning further capital raising with the hopes of bringing total funding to £500 million in order to improve liquidity and ensure production of the DBX SUV models at the newly established Welsh factory.
As part of the agreement, Lawrence Stroll will replace Penny Hughes as the Executive Chairman of Aston Martin Lagonda and will also be looking to expand Aston Martin’s presence in the Formula 1, rebranding his Formula 1 racing team “Racing Point” to “Aston Martin Lagonda” as of the 2021 race season.
Race fans will be relieved to know Aston Martin will continue to sponsor Red Bull Racing F1 team through to the end of the 2020 race season and hypercar owners encouraged to know that the technology partnership between Aston Martin Lagonda and Red Bull Advanced Technologies will remain in place at least until Valkeryie deliveries roll out later this year.
Following the @AstonMartin announcement today, the Team can confirm the manufacturers Title Partnership will conclude at the end of the 2020 season.
— Aston Martin Red Bull Racing (@redbullracing) January 31, 2020
And for those waiting in anticipation for Aston Martin’s electric offerings…. unfortunately, you may have to wait a little longer as all further investments into electric vehicles have been put on ice until after 2025.
Lamborghini is celebrating the 50th anniversary of Countach with a special edition LPI 800-4 model debuting at this year’s Monterey Car Week.
The new Lamborghini Countach LPI 800-4. Credit: Lamborghini
In celebration of the Countach’s 50th anniversary, Lamborghini has unveiled a special limited edition Countach LPI 800-4 as a futuristic tribute to the poster car of the 1980s.
While sharing the same name and drawing on the visual legacy of its predecessor, the new Countach LPI 800-4 is powered by Lamborghini’s aspirated V12 engine combined with new hybrid supercapacitor technology initially developed for the Sian.
Powered by Lamborghini’s V12 engine with hybrid supercapacitor. Credit: Lamborghini
Delivering 802hp maximum combined power (rounded to 800 for the sake of its model name), the LPI 800-4 can reach 0-62mph acceleration in just 2.8 seconds and hit a top speed of 220mph.
The Lamborghini Countach has a top speed of 220mph. Credit: Lamborghini
“The Countach LPI 800-4 is a visionary car of the moment, just as its forerunner was,” says Automobili Lamborghini President and CEO Stephan Winkelmann. “One of the most important automotive icons, the Countach not only embodies the design and engineering tenet of Lamborghini but represents our philosophy of reinventing boundaries, achieving the unexpected and extraordinary and, most importantly, being the ‘stuff of dreams.
“The Countach LPI 800-4 pays homage to this Lamborghini legacy, but it is not retrospective: it imagines how the iconic Countach of the 70s and 80s might have evolved into an elite super sports model of this decade. It upholds the Lamborghini tradition of looking forward, of exploring new design and technology avenues while celebrating the DNA of our brand. It is a Lamborghini that innately expresses the marque’s enduring and emotive power: always inspirational and thrilling to see, hear and most of all drive.”
Inspired by the Quattrovalvole edition with low rectangular headlights. Credit: Lamborghini
Inspired by the Countach’s distinctive silhouette, sharp angles, and wedge shape, the Countach LPI 800-4’s exterior inspiration was taken specifically from the Quattrovalvole edition in the bold lines of the front bonnet with long, low rectangular grille and headlights, as well as in the wheel arches with their hexagonal theme.
Futuristic hexagonal rear lights like those of the Sián. Credit: Lamborghini
Unfortunately for fans of the Wolf of Wall Street Countach, there’s no fixed rear wing on the latest model. However, there are still air scoops integrated fluidly into the car’s shoulders and the distinctive Countach slatted “gills” and famous scissor doors.
The rear of the Countach LPI 800-4 still features a distinctive inverted wedge shape, with the rear bumper featuring a lower, sleeker line and the hexagonal rear light design similar to that of the Sián.
The famous scissor doors still remain. Credit: Lamborghini
Lamborghini has revealed only 112 models of the new Countach LPI 800-4 will be produced (a number chosen in honor of the internal project name “LP 112” used for the original Countach development) with allocations already fulfilled prior to the public launch.
Only 112 Lamborghini Countach LPI 800-4’s will be produced. Credit: Lamborghini
Porsche Motorsport celebrates 25 years partnership with Manthey-Racing and reveals the limited edition 911 GT2 RS Clubsport 25.
The new Porsche 911 GT2 RS Clubsport 25. Credit: Porsche
Porsche Motorsport is celebrating 25 years of collaboration with Manthey-Racing GmbH and has unveiled the limited edition 911 GT2 RS Clubsport 25 to commemorate.
Founded by racing driver Olaf Manthey in 1996, Manthey-Racing GmbH is responsible for running the Porsche 911 RSR of the factory squad in the FIA World Endurance Championship (WEC) and has made a name for itself in both the motor racing world and as a GT road car specialist.
Celebrating 25 years partnership with Manthey Racing. Credit: Porsche
The basic concept and technical ideas for the new special edition was provided by Manthey and based on the 911 GT2 RS Clubsport with Porsche providing the final design.
Developed specifically for track days and circuit racing, the Porsche 911 GT2 RS Clubsport 25 is powered by a 3.8-liter flat-six twin-turbo engine and produces 515 HP directed to the rear wheels through Porsche’s seven-speed dual-clutch gearbox (PDK).
Green and yellow design accents inspired by “Grello”. Credit: Porsche
Taking inspiration from Manthey’s 911 GT3 R, known as the “Grello” because of its distinctive green and yellow livery, the Porsche 911 GT2 RS Clubsport 25 sports a similar green and yellow color scheme to highlight functional areas of the vehicle and adopts many vehicle components and elements from future Porsche racing cars.
Limited to 30 vehicles worldwide. Credit: Porsche
“The design of the 911 GT2 RS Clubsport 25 expresses the long-standing collaboration between Porsche Motorsport and Manthey,” emphasizes Grant Larson from Style Porsche. “It amalgamates the respective strengths of each partner into one racing car, and at the same time bridges the gap between the 991 and 992 model generations of the 911.”
The Porsche 911 GT2 RS Clubsport 25 is limited to 30 vehicles in total (only six are allocated for North America) with deliveries expected to begin in early 2022.
To order, customers will need to email 911GT2RSClubsport25@porsche.de directly and have a spare $620,00 on hand.
The new Pagani Huayra BC Pacchetto Tempesta is set to make its debut at this year’s Monterey Car Week and celebrates ten years of the Huayra supercar.
The new Pagani BC Huayra Pacchetto Tempesta. Credit: Pagani Automobili
This year at Monterey Car Week, Pagani celebrates ten years of the Huayra with the world premiere of the new Pagani Huayra BC Pacchetto Tempesta.
Based on the Huayra BC, the new Pacchetto Tempesta package means the Huayra BC’s high-performance platform can be equipped with a range of “state-of-the-art technical and artisan solutions” to maximize the car’s racing abilities and achieve an 8% power increase to deliver 827 hp and 1,100 Nm torque.
Pagani has only teased several introductory images of the green carbon fiber bodied beauty ahead of the premiere, and although full details are yet to be shared, Pagani has noted that the Pacchetto Tempesta features a new front splitter, dedicated air intake, rear wing with an integrated central fin, and six-pipe exhaust system to maximize aerodynamic efficiency.
New rear wing design with an integrated central fin. Credit: Pagani Automobili
A tweaked suspension system and the addition of an all-new “Soft Driving mode” also ensure drivers are afforded maximum comfort in the aggressive Huayra BC Pacchetto Tempesta.
The Huayra BC Pacchetto Tempesta will make its debut at The Quail, A Motorsports Gathering event on Friday 13th August at Monterey Car Week 2021 and will be seen alongside the Huayra R project and an up-close-and-personal look at the all-new Pagani V12-R engine, six-speed sequential gearbox.
While no prices have been revealed yet, the Pagani Huayra BC Pacchetto Tempesta will no double start above the $2.25 million price tag of the Huayra BC.
New six-exhaust design (four central and two below). Credit: Pagani Automobili