Talks between Aston Martin and Lawrence Stroll, the billionaire backer of the Racing Point Formula One team, over a potential investment deal was reported by motorsport news outlet RaceFans in early December.
Aston Martin has since followed with an official statement confirming talks with new investors as part of a review of its funding requirements.
Aston Martin said in a statement released on Friday that it is “engaged in early stage discussions with potential strategic investors in relation to building longer term relationships which may or may not involve an equity investment.”
The Financial Times (subscription required) reported the same day that Aston Martin has held meetings with investors and rival automakers from China, India and the Middle East, as well as Stroll.
Aston Martin has seen its sales slow in 2019 due to falling in demand in Asia and Europe. Its share price has also fallen dramatically since the automaker went public a year ago. Aston Martin's share price on Friday was 5.58 British pounds (approximately $7.50), down from a high of about 16 British pounds shortly after the IPO. At the current price, the automaker's market valuation is only around 1.27 billion British pounds.
The automaker is looking to rebound with the launch of its DBX which entered production in December and is expected to double sales by attracting new, more mainstream buyers. The high-performance SUV reaches the United States in the second half of 2020, priced from $189,000.
