The manufacturer, which famously produces the car-of-choice for super spy, James Bond has been sold to a consortium led by UK motor racing boss Dave Richards.
Mr Richards, 54, who is head of automotive engineering group Prodrive, described the deal as "an incredible opportunity", adding that Aston Martin was "one of the world's most iconic brands".
He will become non-executive chairman and a board member of a company that will later this year bring out the DBS model, the car driven by the latest James Bond - Daniel Craig - in the 007 movie Casino Royale.
Dating back to 1914, Aston Martin has been wholly owned by Ford since 1994. The company will stay at its 1,800-workforce headquarters at Gaydon where an extra 200 jobs are expected to be created within three years.
The new staff will work on the four-seater Rapide which was shown in concept form last year and which is due to be launched in 2010.
In the 1990s, Aston Martin was producing as few as 46 cars a year. But under the leadership of Ulrich Bez annual production has soared to 7,000.
Mr Bez is to remain as chief executive. He said today: "This new partnership is a tremendously exciting opportunity for Aston Martin.
"We have a deal and we have a good deal. We are all grateful to Ford Motor Company who have enabled us to grow and flourish to the level we are now."
“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."
Monday, March 12, 2007
Never Affordable, Aston Martin is no longer a Ford.
Prestige car maker, Aston Martin has been returned to British ownership after US giant, Ford agreed to sell in a £479 million deal. ITV