12/6/2019, 2:28 PM (Source: TeleTrader)
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Aston Martin opens Wales factory to make first SUV

British luxury carmaker Aston Martin opened a new factory at St Athan in Wales on Friday where it intends to manufacture the DBX, its first-ever SUV.

"Our core business of producing beautiful, hand-crafted cars in England is now extended to Wales, which is extremely pertinent to us as a Great British company," CEO Andy Palmer stated and noted that the company's new plant is "integral to our ambitions as a global luxury brand with a presence in all major sectors of the market." The first DBX vehicles were made in June prior to the official opening of the factory, while full production is expected to commence in the spring of 2020. The carmaker noted it plans to create between 600 and 750 jobs at the site in 2020.

On Thursday, reports emerged that Canadian billionaire Lawrence Stroll is planning to launch a bid for a major stake in Aston Martin, which caused the automaker's shares to soar. Beither Stroll nor Aston Martin commented on the reports. The company's stock continued to trade in the green today, jumping 4.78% to 620.40 pence at 2:11 pm CET.

Breaking the News / NP