LONDON – Carmaker Aston Martin is seeing “phenomenal” demand, boosted by a rebound in China, the company’s executive chairman and billionaire investor Lawrence Stroll said on Friday.
“Demand right now is phenomenal,” he told the Financial Times‘ “The Future of the Car” digital conference. “China really returned first and strongest, and is gangbusters.”
Stroll led a consortium which invested in Aston earlier this year as the carmaker struggled following its 2018 stock market flotation, after which its share price slumped.
Since then a new chief executive has taken over and the 107-year company, famed for being fictional agent James Bond’s car of choice, did a deal in October which sees German carmaker Daimler up its stake in the firm.
Shareholders approved the latest capital injection plan on Friday.
Stroll said Aston’s current growth trajectory meant “the public markets are the right place” for the firm whilst eying an increase in the value of its shares, which stand at 79 pence ($1.06).
“They’ll be significantly worth more than they are today,” he said.
Reporting by Costas Pitas, editing by David Milliken and Louise Heavens