Saudi Arabia's Public Investment Fund (PIF) would be holding talks with Aston Martin for a stake in the business as this company is looking for additional funds for its next range of cars, Financial Times reported on Thursday, citing people with knowledge of the topic.
Discussions are at an early phase. However, PIF is a group with experience in these matters as they already hold stakes in Lucid Motors and McLaren. The sources said that the takeover of the new shares could be worth £200 million.
Aston must finance its upcoming generation of sports cars and its first foray into electric vehicles. Currently, both Aston Martin and the PIF have declined to comment on the operation.
