Aston Martin has launched its first car in Wales, which it hopes will generate sales growth after reporting a loss of £ 13.5 million in the third quarter. The Saint Athan plant will employ 750 people when fully operational.
The first off the assembly line was the DBX sport utility vehicle.
Aston Martin says this is “the culmination of an extensive development program that began with physical testing in Wales last year and virtual development going back to 2015.
A “women's advisory board” was brought in to develop the DBX, and it contributed to the design of fictional British agent James Bond's favorite car brand.
Earlier this year, Aston Martin said it received a £ 116.7 million loan to bolster its financial position ahead of the launch of the St. Athan plant.
“Basically, we are now taking on the costs of the complete factory without getting any benefit from the proceeds ... so from that point of view, of course, this is a really important model,” Aston Martin CEO Dr. Andy Palmer told Reuters .
Earlier this month, the company said its dealer sales fell 16% to 1,497 vehicles from July to September after falling demand in Europe and Asia.
Despite its quarterly loss report, Aston Martin said it expects to meet the market's earnings expectations.
The Welsh government has pledged £ 18.8 million to attract the automaker, with funding related to job creation, training, and research and development.
The Welsh authorities have also provided Aston Martin with a 30-year guarantee under which taxpayers' money will cover the lease of the factory if the company decides to wind down its activities - the cost of the guarantee was not disclosed.
