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Stroll announce further investment in Aston Martin
British carmaker Aston Martin announced on Monday its plan to sell its minority stake in the Aston Martin Aramco Formula One team to help turn around its loss-making core business. Last month, Aston Martin announced plans to cut 170 jobs, roughly 5% of its global workforce, after swinging to a loss in the fourth quarter. As a result of its financial struggles, the British luxury carmaker has now announced that it will raise more than £125 million ($161.7 million) through funding from Chairman Lawrence Stroll’s investment. In August 2018, Stroll led a consortium of investors in buying the assets of the defunct Force India Formula One team. The team was renamed Racing Point, and as a new...
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2w ago from F1Technical.net
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