Aston Martin is looking for a "big brother" partner to survive as a low-volume, luxury automaker, even after it posted its first profit in eight years and prepares for a potential initial public offering. The company's pretax profit swung to 87 million pounds ($121 million) last year from a loss of 163 million pounds in 2016.
Aston Martin is targeting a valuation of as much as $6.8 billion in a potential IPO, Bloomberg reported. Investors' interest could be bolstered by the automaker's planned expansion into the lucrative SUV segment.
As if plotting to challenge Ferrari in the midengine supercar arena wasn't difficult enough, Aston Martin also is brainstorming how best to break the stranglehold Rolls-Royce and Bentley have on the ultraluxury sedan market.