Aston Martin invests $645M in Japanby Ronan Glon
The British brand wants to expand its presence on the Asian market.
Aston Martin has announced plans to invest up to 500 million British pounds (about $645 million) in Japan over the next five years.
Company CEO Andy Palmer made the announcement while visiting Japan with British prime minister Theresa May. He explained it highlights the importance of the Japanese luxury car market to the global success of Aston Martin.
The investment includes opening a Meta Technology and Luxury Accelerator in Tokyo. Billed as an advanced product planning office, it will monitor Asia's luxury car market and report back to the company's headquarters in Gaydon, England. It will also explore how fast connectivity and electrification spread across the continent, allowing Aston to respond in a timely manner.
Aston Martin also pledged to spend 70 million pounds (roughly $90 million) on parts manufactured by Japanese suppliers such as Bridgestone, Denso, Mitsubishi, and Yazaki. Finally, it will create a flagship global brand center in Tokyo where customers and enthusiasts can go to learn more about the brand and what it stands for.
The British government applauded Aston Martin's investment.
"As we prepare to leave the European Union, it is vital that we build on our existing ties with friends and allies," May said in a statement.