New Aston Martin boss eager to restart lines

ASTON Martin’s new boss has said his priority is to restart the luxury car firm’s manufacturing operations after taking control in the midst of the coronavirus crisis.

It comes just weeks after the firm’s production facility at St Athan in the Vale of Glamorgan was temporarily shut down amid the pandemic, as the manufacturer took advantage of the UK Government’s furlough scheme.

Shares in the company jumped yesterday morning after Canadian billionaire Lawrence Stroll formally took over as executive chairman, after purchasing a 25% stake in the business.

In January, the owner of the Racing Point Formula 1 team announced a £500m funding deal to support the troubled car firm.

The company also confirmed that Toto Wolff, Mercedes’ Formula 1 team principal, has bought a stake in the business as part of its major rights issue.

The company said its rights issue has been accepted by 98% of the company’s shareholders.

Mr Stroll said the business’s “pressing objective” is to restart production of its first SUV model, the DBX, which is made at its South Wales plant.

He said the company will also look to drive its marketing efforts as the outbreak unwinds in order to help rebuild the company’s order book.

Mr Stroll said: “In the midst of the most challenging environment globally that any of us have ever experienced, all of my and the management team’s energies will now be dedicated to building on the inherent strengths of the company, its brand, engineering, and the skills of its people to forge the foundations of a bright future.”