SILVERSTONE, ENGLAND - SEPTEMBER 10: Fernando Alonso, Aston Martin F1 Team, Adrian Newey, Lawrence ... More Stroll, Owner, Aston Martin F1 Team, and Lance Stroll, Aston Martin F1 Team at a press conference at Aston Martin Headquarters on September 10, 2024 in Silverstone, England. (Photo by Zak Mauger/Getty Images for Aston Martin) Getty Images for Aston Martin Aston Martin announced on Monday its plan to sell its minority stake in the Aston Martin Aramco Formula One team to help turn around its loss-making core business. The luxury British carmaker, famed for its role in the James Bond franchise, is set to raise at least £74 million ($95.5 million) through the stake sale, but it has confirmed that such a move will not affect the existing long-term sponsorship. Chairman Lawrence Stroll, whose son Lance drives for the Silverstone-based outfit alongside Fernando Alonso, said that Aston Martin’s place on the F1 grid is “as secure as ever.” The Canadian billionaire has already invested around £600 million into the iconic brand since taking the helm in 2020. Now his investment vehicle, Yew Tree Consortium, is set to inject an additional £52.5 million into the marque by purchasing 75 million shares at 70 pence per share. This would raise its shareholding from 27.7% to 33%, with an eye on potentially increasing it to 35%. Normally, entities owning more than 30% of a UK-listed company are required to make an offer to buy out the remaining shareholders under British takeover rules, but Yew Tree is seeking a waiver for this requirement. “Exemptions have been granted in the past, yet it feels like a takeover would be a better outcome as it would mean the car company would be free to pursue a turnaround strategy out of the public spotlight,” said Russ Mould, investment director at AJ Bell. MORE FOR YOU NSA Warning—Change Your iPhone And Android Message Settings A Disappointing Update About ‘Solo Leveling’ Season 3 ‘The White Lotus’ Season 3, Episode 7 Recap And Review: I’m Starting To Worry About This Show MIAMI, FLORIDA - MAY 06: Owner of Aston Martin F1 Team Lawrence Stroll walks in the Paddock prior to ... More final practice ahead of the F1 Grand Prix of Miami at Miami International Autodrome on May 06, 2023 in Miami, Florida. (Photo by Jared C. Tilton/Getty Images) Getty Images In late February, Aston Martin announced plans to cut 170 jobs — about 5% of its workforce, targeting annual savings of £25 million ($32 million). This came after the company suffered losses of £289.1 million and a staggering rise in debt, which jumped 43% to reach £1.16 billion in 2024, with shares also falling around 33%. Now with the planned sale of its minority stake in the F1 team and the fresh investment by Stroll’s Yew Tree – a move that saw the company’s shares surge by as much as 14% on Monday – Aston Martin is projected to raise over £125 million ($161.7 million) as part of its efforts to counter losses as well as tariffs imposed by U.S. President Donald Trump. ForbesBernie Ecclestone Sells His $646 Million F1 Car Collection To Red Bull HeirBy Yara ElshebinyForbesFelipe Massa’s Case Against FIA, FOM, Bernie Ecclestone Heads To Hearing—What To KnowBy Yara Elshebiny How Trump’s Tariffs Could Affect Aston Martin The White House is set to impose new tariffs on various consumer goods including 25% tariffs on all cars “not made in the United States” in an effort to promote American manufacturing and reduce the country’s trade deficit. People close to Aston Martin said that the company expects a hit of up to £30 million to its gross profit due to these tariffs set to kick in on April 2, as reported by the Financial Times. The luxury carmaker said that the impact of the tariffs remains “under review,” but admitted that initial analysis led the company to forecast only “modest growth” in its annual car sales – a downgrade from its previous expectation of mid-single-digit percentage growth. LONDON, ENGLAND - JUNE 04: A gold Aston Martin Valkyrie hypercar logo bonnet badge is displayed ... More during the London Concours at the Honourable Artillery Company on June 04, 2024 in London, England. The show is a luxurious automotive garden party hosted right in the heart of the City displaying 80 of the world’s most precious cars with themes of style, craftsmanship, luxury and motoring. (Photo by John Keeble/Getty Images) Getty Images There were also concerns that such a tariff would trigger price hikes for consumers – something Aston Martin is likely to implement to offset the hit. Chief executive Adrian Hallmark explained that the British marque would still aim to return to profitability this year through vehicle price increases, cost-cutting, and higher margins on customization offers. “It’s not catastrophic. It’s a problem, but we can manage our way through it,” said Hallmark. The U.S. market is crucial for Aston Martin, accounting for around a third of its £1.6 billion revenue for 2024 and surpassing the combined revenue generated from the United Kingdom and Asia Pacific. Follow me on Twitter. Editorial StandardsForbes Accolades