British Finance Minister Rishi Sunak will rescue companies seen as strategically important on a “last resort” basis after other options run out. The Treasury told Reuters late on Sunday it may try to save those companies whose failure will “disproportionately harm the economy” and that could include Jaguar Land Rover which has been reported as seeking massive assistance to offset losses due to … [Read more...]
AM St Athan begin return to work early next month
Aston Martin’s St Athan factory will begin to return to normal later than initially thought and resume DBX suv production on 5 May. Work at the company’s UK headquarters site in Gaydon will begin later in the month. The majority of its employees are currently furloughed and those who continue to be laid off from 1 May will get 80% of their base salaries from next month. It has also announced … [Read more...]
Global collapse of van production to be felt for 2020
Global commercial vehicle production volumes in 2020 compared to 2019 are forecast to be down 22 percent , some 650,000 units to 2.6 million units, in the wake of the COVID-19 pandemic, according to the most recent analysis from IHS Markit. Individual regional forecasts are set to a downtrend, and supply chain impacts are being felt, as the consequences of the virus have shuttered … [Read more...]
Newslines 20 April
Aston Martin is extending by a week production stoppages at its St Athan DBX plant until 27 April. Production will be suspended from today when it planned to restart because of the current global and local position concerning suppliers and employees, Aston Martin confirmed and Britain's biggest automaker, Jaguar Land Rover, has not set a date for restarting while Nissan said that the production … [Read more...]
Aston Martin St Athan hit by virus fallout
Aston Martin Lagonda has suspended vehicle production at its plants in the UK, including at St Athan, home of its DBX crossover. The company, headquartered in Warwickshire, made the announcement today, and said the decision to halt production – for a scheduled four weeks – from tomorrow was in response to the Covid-19 (Coronavirus) pandemic. Aston Martin’s President and Group CEO, Dr Andy Palmer … [Read more...]
Tradelines 26 February
The new DBX SUV has been given the Q-treatment of bespoke luxuries and features by Aston Martin. The Welsh-made luxury car will be shown in its latest Q-code design at next week’s Geneva motor show. Volkswagen's adding a range-topping premium model to its flagship Touareg line – the Touareg R. The versatile model’s 340 kW (462 PS) plug-in hybrid drive offers an innovative blend of superlative … [Read more...]
£500M “good” for Aston Martin & St Athan, Welsh Minister
Aston Martin’s St Athan project is rolling ahead and another 300 people are being interviewed for jobs as a further £500M investment is raised for the company today, writes Robin Roberts. A business consortium led by motor sport billionaire and Racing Point F1 team’s Canadian owner Lawrence Stroll has bought 45.6m new ordinary shares to make him executive chairman. This will bring in £182M and a … [Read more...]
Newslines 16 December
Aston Martin wants to build “longer term relationships” with investors which may or may not involve an equity investment, as part of a funding review, Reuters has reported in media. Aston Martin reported a third quarter loss but is pinning hopes of a revival with the launch next year of its DBX SUV being made in St Athan, near Cardiff and unveiled last month (above) as well as a new luxury … [Read more...]
DBX is pivotal for AML and Wales
The new Aston Martin DBX SUV will be a pivotal model for the company and firmly put Wales on the map for motor manufacturing, some 260 guests were told today at the official opening of the luxury brand's new factory at St Athan, near Cardiff. Addressing an audience from around the world at the new plant, AML president and ceo Andy Palmer said it represents a big step by the company into a … [Read more...]
Aston Martin Lagonda plant officially opens
Aston Martin Lagonda this morning opened its £250M manufacturing facility at St Athan, near Cardiff. First Minister of Wales, Rt Hon Mark Drakeford AM joined Aston Martin Lagonda President and Group CEO, Dr Andy Palmer at a ceremony to officially open the British luxury marque’s new plant. While Gaydon continues to be the home of the company’s sports car production, St Athan is the home of Aston … [Read more...]