Aston Martin has announced the largest investment program in its history, a move that it expects will help put the struggling British maker back in the black by 2016.
The plan calls for an investment of $845 million – a relative pittance compared to the funds competitors like Mercedes-Benz, BMW, Porsche and Jaguar Land Rover plan to spend in the coming year – but nonetheless the biggest investment ever by Aston, a brand long known for its association with fictional super spy James Bond.
“A buck travels farther with us,” asserted Hanno Kirner, Aston Martin’s Chief Financial Officer, during a briefing this week.
It will have to. The marque was one of an assortment of European luxury brands sold off by Ford Motor Co. But where Volvo and Jaguar Land Rover found parents with deep pockets – India’s Tata Motors and China’s Geely, respectively – Aston was spun off to a small consortium of investors in 2007 and has been struggling financially ever since.