And Aston Martin goes to… Prodrive! The bid for Aston Martin was won by a consortium of private investors headed by David Richards who heads Prodrive, a British automotive company that tunes cars and manages Aston Martin’s racing team. Perhaps for readers of this blog, you might know Prodrive best by their exciting creation, the Prodrive P2.
Cash-strapped Ford would welcome the US$870 million or so that this sale would bring it. Financially, the consortium is backed up by Kuwaiti firms Investment Dar and Adeem Investment Co. The deal also involves details on sourcing, including the somewhat shared DNA of Aston Martins and Jaguar’s sports car, as well as the supply of Aston Martin’s engines from a Ford plant in Germany. Ford will retain a 15 percent stake in the British luxury automaker.