The conditional £6.9 million investment from the UK government is described as an exceptional support package, that will be delivered if Aston Martin invests in new products.
The firm has today announced more products – both current and future cars – will be offered to markets outside of Europe, particularly high-growth markets such as China and the Middle East.
This will require the firm to invest more in additional engineering (development work will begin this year), but the announcement is a sign of Aston Martin’s intent.
“Expanding our product range to enable a greater reach into export markets is an essential part of our Second Century business plan,” said Aston Martin CEO Dr Andy Palmer.
“Having this support from the government to help execute the plan is a meaningful vote of confidence in the future of the company.”
The UK government support will likely help Aston Martin attract further investors: currently, Mercedes-Benz parent firm Daimler holds a 5 per cent stake in the British sports car firm.
Today’s news is an expansion of a recent decision by the firm: Aston Martin recently committed to selling the Lagonda Taraf in Europe and the UK after originally saying it would only be sold in the Middle East.