At £3.6, the share price reflects investor scepticism. Aston Martin's valuation, which has fallen by a factor of four in two years, reflects the dashed hopes they had for the iconic supercar brand at the height of speculative euphoria.

However, Aston Martin's operating performance is not so bad, with sales growing - albeit laboriously - and cash burn well under control. We see these same investors being far more lenient with technology start-ups in the USA, capable of burning billions per quarter without producing anything concrete.

However, it's a strange five-way tango we're witnessing in Aston Martin's capital. Canadian Lawrence Stroll, who has vowed to turn the company around, owns 21.1% of the capital, followed by the Saudi sovereign wealth fund and China's Geely, with 17.9% and 17.2% respectively, and Germany's Mercedes, with 9.4%.

The latest newcomer is Lucid, an American company founded by former Tesla employees and also controlled by the Saudi fund, which has taken a 3.7% stake and will supply batteries for Aston's electric vehicles in place of Mercedes. The German manufacturer will continue to supply the British company with engines and other equipment.

So far, of the five, China's Geely stands out as the most astute investor. In addition to the 42 million shares it obtained from the Stroll-led consortium in a private transaction, it received 28 million new shares at a price of £3.3, not far off historic lows.

A further injection of cash seems inevitable if the manufacturer is serious about achieving its ambitious two-year target. In this respect, it is to be feared that the delicate five-way tango may turn into a pugilistic affair by then.

After all, isn't it the lot of the great luxury brands to engage in bloody battles between shareholders determined to win control?