Aston Martin chief executive Andy Palmer to unveil £600m investment drive in China during Theresa May’s trade mission

Aston Martin is set to unveil over £600m worth of investment deals in China this week, as it looks to drive up its presence in the booming auto market there.

According to Sky News, several agreements will be revealed by Aston Martin boss Dr Andy Palmer, including the opening of 10 new showrooms in China.

There are also plans for an exchange programme involving Chinese engineering graduates through a tie-up with Sinomach, as the car giant looks to tap greater interest in the world’s largest automotive market.

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These are part of a five-year investment programme the British luxury car firm is planning, as it gears up to launch the Aston Martin DBX, its first SUV, in 2019, after its new Vantage this year.

Earlier this month, Aston Martin revealed it had revved to bumper sales last year, marking the first time since 2008 it had delivered more than 5,000 cars. It upgraded its profit guidance off the back of the results.

Last August, the carmaker revealed a trade deal worth £500m with Japan, exporting £400m worth of its goods, and investing more than £70m in components from Japanese suppliers.

The news is set to be revealed as the Prime Minister carries out a trade visit to China this week, looking to boost Britain’s links as it prepares for Brexit.

British trade with China has risen by 60 per cent since 2010, and ministers are keen to position Britain as an attractive place to do business in the wake of its exit from the European Union.

May will be accompanied by a raft of British business leaders and commercial organisations.

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