Aston Martin constructing $200M+ Formula 1 facility

Lawrence Stroll is aiming for a team valuation of $1.38 billion in the next five years

Aston Martin made its comeback to Formula One this season after 61 long years and it has already started investing millions to be victorious.

The racing team has started constructing a new manufacturing and racing facility in Silverstone, England with the support of the billionaire owner Lawrence Stroll.

Proclaimed as F1’s first smart facility, the total cost of the project will vary somewhere around $207 million and $276 million. The construction is scheduled to finish by late next year or early 2023.

It is reported that Aston Martin’s entire manufacturing system will be occupied in the 400,000-square-foot campus.

Some additional technologies would include a wind tunnel and an F1 simulator.

Heavy high-tech software and monitoring systems will be installed throughout the facilities by partnering with Cognizant, NetApp, and Sentinel One.

Lawrence Stroll is aiming for a team valuation of $1.38 billion in the next five years.

Stroll was made the executive chairman after announcing a $235.6 million investment in April 2020. The company updated losses each year from 2018 to 2020 but had a positive EBITDA of $28.1 million in Q2 2021.

Aston Martin has decided to manufacture 90% of its vehicles electric or hybrid by 2030 on the consumer front. The European Commission has planned a rule banning new combustion engine cars in Europe which will commence in 2035.

Stroll has planned to invest in Formula E teams Venturi and DS Techeetah last year.

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