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British luxury carmaker Aston Martin Lagonda announced on Tuesday that it “should exceed” its financial targets in 2025. This comes on the heels of a deal with American-Saudi electric vehicle manufacturer Lucid that has boosted its share price.
After some difficult years, Aston Martin is optimistic about 2025. On Tuesday, the British luxury car manufacturer said it would probably exceed its financial targets by 2025.
Previously, the brand had set a sales target of £2 billion (€2.3 billion) by 2024-2025.
“The company expects to significantly exceed its financial targets in 2024 and, if the trend continues, should surpass them in 2025”, Aston Martin said in a statement.
At its investor day, the company also revealed its goal of achieving sales of £2.5 billion (€2.8 billion) by 2027-2028.
Since its failed flotation on the London Stock Exchange at the end of 2018, Aston Martin has suffered numerous setbacks. Saved from bankruptcy in early 2020 by Canadian billionaire Lawrence Stroll, the company is now looking to position itself as even more upmarket and begin its transition to electrification.
The brand, which plans to launch its first plug-in hybrid vehicle next year, has plans to incorporate an electric powertrain option on all new models by 2026.
Agreement with Lucid
This news comes after the British luxury carmaker announced on Monday a “supply agreement” with Lucid, the American-Saudi manufacturer, which aims to create “ultra-luxury, high-performance” electric vehicles. The announcement had led to a 10% rise in Aston Martin’s share price on the London Stock Exchange on Monday morning.
According to the agreement submitted to Aston Martin shareholders for approval, Lucid will supply the automaker with electric drive systems and batteries. The deal is for a total payment of around $232 million (€211 million), part of which will be paid in shares in the British group, representing 3.7% of the free float.
Lawrence Stroll declared that the agreement with Lucid would give Aston Martin “access to the most advanced and innovative technologies in the industry”. He added: “With Mercedes-Benz, our other partner, we now have two world-class suppliers to support the internal development and investments we are making to implement our electrification strategy.”
In May, Aston Martin also announced a partnership with Chinese automotive group Geely, which invested £234 million (€273 million) and became the group’s third-largest shareholder, after Saudi Arabia’s Public Investment Fund and the Yew Tree consortium headed by Lawrence Stroll, the main shareholder.
At the beginning of May, Aston Martin announced a reduction in its first-quarter losses to 73.8 million pounds (86 million euros), compared with 112 million pounds a year earlier, mainly thanks to a positive exchange rate effect.
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British luxury carmaker Aston Martin Lagonda announced on Tuesday that it “should exceed” its financial targets in 2025. This comes on the heels of a deal with American-Saudi electric vehicle manufacturer Lucid that has boosted its share price.
After some difficult years, Aston Martin is optimistic about 2025. On Tuesday, the British luxury car manufacturer said it would probably exceed its financial targets by 2025.
Previously, the brand had set a sales target of £2 billion (€2.3 billion) by 2024-2025.
“The company expects to significantly exceed its financial targets in 2024 and, if the trend continues, should surpass them in 2025”, Aston Martin said in a statement.
At its investor day, the company also revealed its goal of achieving sales of £2.5 billion (€2.8 billion) by 2027-2028.
Since its failed flotation on the London Stock Exchange at the end of 2018, Aston Martin has suffered numerous setbacks. Saved from bankruptcy in early 2020 by Canadian billionaire Lawrence Stroll, the company is now looking to position itself as even more upmarket and begin its transition to electrification.
The brand, which plans to launch its first plug-in hybrid vehicle next year, has plans to incorporate an electric powertrain option on all new models by 2026.
Agreement with Lucid
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British luxury carmaker Aston Martin Lagonda announced on Tuesday that it “should exceed” its financial targets in 2025. This comes on the heels of a deal with American-Saudi electric vehicle manufacturer Lucid that has boosted its share price.
After some difficult years, Aston Martin is optimistic about 2025. On Tuesday, the British luxury car manufacturer said it would probably exceed its financial targets by 2025.
Previously, the brand had set a sales target of £2 billion (€2.3 billion) by 2024-2025.
“The company expects to significantly exceed its financial targets in 2024 and, if the trend continues, should surpass them in 2025”, Aston Martin said in a statement.
At its investor day, the company also revealed its goal of achieving sales of £2.5 billion (€2.8 billion) by 2027-2028.
Since its failed flotation on the London Stock Exchange at the end of 2018, Aston Martin has suffered numerous setbacks. Saved from bankruptcy in early 2020 by Canadian billionaire Lawrence Stroll, the company is now looking to position itself as even more upmarket and begin its transition to electrification.
The brand, which plans to launch its first plug-in hybrid vehicle next year, has plans to incorporate an electric powertrain option on all new models by 2026.
Agreement with Lucid
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