Luca di Montezemolo, former president of Ferrari, has become an investor in Aston Martin, writes Business F1. According to the business publication, Montezemolo has invested $4 million in the company, which is led by Lawrence Stroll, because he believes in its successful development. Currently, the capitalization of the classic British sports car manufacturer exceeds $ 1 billion.
Montezemolo and Stroll have had a long-standing relationship – ever since the Tommy Hilfiger brand, whose economy was once controlled by a Canadian billionaire, was a sponsor of the Scuderia.
But even if the ex-Ferrari president believes in Aston Martin’s bright prospects, the British company currently continues to run losses of up to $1.5 million a day. This is despite Stroll’s efforts to turn the tide, particularly efforts to increase sports car sales through attractive discounts. In addition, Stroll sold a £117 million stake in Aston Martin to Geely, a Chinese company, in May.
Fernando Alonso, who has been driving Aston Martin F1 since this year, has been on the podium in six of the ten races of the season so far and this team really claims second place in the Constructors’ Championship, losing 22 points to Mercedes and ahead of Ferrari by 24 points.
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
