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Sunday, April 21, 2024
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Aston Martin Building $200M+ Formula 1 Facility

  • Aston Martin broke ground on a manufacturing and racing facility expected to cost north of $200 million and open 2022 or 2023.
  • The campus will house all of the racing team's manufacturing processes.
Aston Martin Formula One/Design: Alex Brooks

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.

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