Aston Martin returned to Formula 1 this season after a 61-year absence, and it’s investing hundreds of millions to gain a competitive edge.
With the backing of billionaire owner Lawrence Stroll, the team is building a new manufacturing and racing facility in Silverstone, England.
Billed as F1’s first “smart” facility, the complex is slated to finish late next year or early 2023 and will cost between $207 million and $276 million.
- The 400,000-square-foot campus will house Aston Martin’s entire manufacturing system.
- It will include a wind tunnel and an F1 simulator.
- The company is partnering with Cognizant, NetApp, and Sentinel One to install software and monitoring systems throughout the facility.
- Stroll is targeting a team valuation of $1.38 billion in the next five years.
Stroll became executive chairman after leading a $235.6 million investment in April 2020. The company posted losses each year from 2018 to 2020 but had a positive EBITDA of $28.1 million in Q2 2021.
On the consumer front, Aston Martin plans to make 90% of its vehicles electric or hybrid by 2030. The European Commission has proposed a rule banning new combustion engine cars in Europe starting in 2035.
Stroll discussed investing in Formula E teams Venturi and DS Techeetah last year.