Aston Martin Chairman Stroll on luxury automaker’s turnaround plan: ‘The risks are behind us’

Aston Martin Executive Chairman Lawrence Stroll said the company is set to produce 10,000 vehicles a year by 2025, adding that the company’s “risks are behind us.”

The Canadian billionaire told CNBC he invested $1 billion in Aston Martin and its Formula 1 team and is confident his turnaround plan is paying off.

“I have delivered on every single thing I said to the public since the day I became executive chairman and far surpassed what I promised,” Stroll said in an interview. “The risks are behind us. We have tremendous growth in front of us and a Formula 1 team to market it.”

A consortium of investors led by Stroll took a 16.7% stake in Aston in early 2020, right before the pandemic shut much of the world down.  He increased his investment to 25% of the company in March, injecting another $25 million. Stroll also brought his own Formula 1 team to Aston Martin and delayed the company’s EV plans to 2025 as competitors raced out new electric supercars, a controversial move that helped control costs.