Aston Martin wins more investment
Another day, another billionaire lines up to bail out British car-maker, this time it's the turn of Switzerland's richest manJust days after Mercedes-AMG F1 team principal Toto Wolff snapped up a piece of Aston Martin, Switzerland's richest man has stepped forward to take a stake in the struggling car-maker.
According to Automotive News Europe, pharmaceutical tycoon Ernesto Bertarelli, whose family's fortune is estimated to be worth $US18.1 billion ($A28.4b), has bought a 3.4 per cent voting stake in the famous British sportscar-maker.
A little more than a month ago on the eve of launching what's almost certain to be its best-selling model, the Aston Martin DBX SUV, the famous brand was at serious risk of running out of cash altogether
First to save the ailing car-maker with a cash splash of $1.2 billion was Lawrence Stroll, the Canadian billionaire who gave his son Lance a Formula 1 drive by buying the Force India team.
Since then, Stroll senior's close friend Wolff has also invested in Aston and now owns less than one per cent of the car-maker that will field a works team in the 2021 F1 season.
The investment frenzy is thought to come from Stroll's wager that the make-or-break DBX will succeed, the fact the Valkyrie hypercar is ready for sale and, finally, that development of the mid-engined Valhalla and Vanquish supercar is already well underway.
Remarkably, the injection of much-needed cash comes as both of Aston Martin's UK plants remain closed due to the ongoing COVID-19 pandemic.
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