Luxury car maker Aston Martin Lagonda has announced a £500 million investment deal in the Japanese car market, including the creation of a Meta Technology and Luxury Accelerator office in Tokyo.
The company says this advanced product planning office is being created specifically to “tap into research and technologies in the electric and connected car areas as well as the innovations Japan is making in the luxury market.”
The investment program was announced by Dr Andy Palmer, Aston Martin President and Chief Executive Officer, during his visit to Japan as part of the UK delegation accompanying British Prime Minister Theresa May.
The announcement also included Aston Martin exports worth over £400 million, boosted by new sports cars and the introduction of the company’s first Sports Utility Vehicle, Aston Martin buying more than £70 million in components from Japanese suppliers including Bridgestone, Denso, Mitsubishi and Yazaki and investments in a flagship global brand centre in Tokyo, new Aston Martin Japan HQ and further growth of the Aston Martin dealer network across Japan.
Dr. Palmer said: “Last week we unveiled our half yearly results, which saw Aston Martin register its third successive quarter of pre-tax profit. Our improving performance reflects rising demand for our new and special products.
“As the world’s second largest luxury car market, Japan is key to our future plans as we completely revitalise and expand our product portfolio under our Second Century plan. We have long enjoyed a loyal following from Japanese customers and the public alike, with our new dealership in Tokyo set to become our largest worldwide by volume.
“To ensure we are focused on the needs of Japanese and Asian customers, we are creating a Meta Technology and Luxury Accelerator office in Tokyo, reporting directly to HQ, to develop insights into luxury customer behaviour in Asia. This advanced product planning office is being created specifically to tap into research and technologies in the electric and connected car areas as well as the innovations Japan is making in the luxury market.” continued Palmer.