The initial public offering (IPO) values the British manufacturer at around £5bn and would place it in the FTSE 100. Following its own IPO in 2015, Ferrari’s value doubled to around £15bn a year later.
Aston Martin's Andy Palmer on stock flotation: Q&A
Aston Martin has changed significantly as a company under the leadership of Andy Palmer, who joined as CEO in 2014. He has brought financial stability to the company and returned it to profit.
Last year, it was in the black for the first time since 2010. Aston’s first-half results in 2018 showed that it recorded a pre-tax profit of £20.7 million.
Palmer has underpinned that growth with his so-called ‘second century’ plan, which is formed of seven models being launched over seven years at the rate of one per year, each then on sale for a seven-year model cycle with various derivatives and special-edition versions launched within that.
Opinion: Ferrari shows how far Aston still has to go
Hybrid powertrains to arrive later in DBX's lifecycle
Daimler will provide Aston’s hybrid technology and is also one of two routes for sourcing full-electric drivetrains, according to Palmer, with other external partners also being explored.
Aston has sourced an 800V system for its first electric car, the limited-run RapidE due in 2019, and Palmer said 800V and access to the latest chemistry is key to any future EV powertrain from the firm. Although hybrid versions of the DBX are a long way off, the car will be launched with a Mercedes-sourced 4.0-litre V8 and Aston’s own 5.2-litre V12 as core engine options.
Palmer said that although he lists the DBX’s rivals as the Bentayga, Urus, Cullinan and upcoming Ferrari, each model performs a very different role in the super-luxury SUV segment. “Those minded towards a beauty of execution will move to Aston,” he said.
First-time Aston customers are expected to be found in China and North America in particular for the DBX, but Palmer said plenty of existing Aston owners will be interested, too. “It’s fascinating to me that 72% of Aston customers also own an SUV, and normally these are Cayennes or Range Rovers,” he said. “If you’re converted to Aston, it’ll be easier to convert buyers to an Aston SUV.”
The final model name of the DBX has yet to be decided upon. However, earlier this year Aston trademarked the name Varekai. The seventh model in its product plan, a mid-engined supercar to rival the Ferrari 488, will be called the Vanquish.