Aston Martin plans to lift £210 million ($270 million) by promoting new shares because the British luxury-car maker seems to be to pay again high-interest debt and lift funds for its electrification technique.

Main shareholders together with Chairman Lawrence Stroll’s Yew Tree consortium, Saudi Arabia’s Public Funding Fund, Geely Worldwide and Mercedes-Benz Group have agreed to subscribe to round £115 million of the location, Aston Martin stated Monday. The remaining inventory might be made out there to institutional buyers.

“The share providing will enable us to redeem our most costly debt, speed up the pathway we’ve been on to deleverage our steadiness sheet and turn out to be sustainably free money stream optimistic,” Stroll stated in an announcement.

Aston Martin has been working to return to revenue in a turnaround effort that has resulted in a number of capital raises. The corporate final week reported second-quarter earnings that beat analyst expectations, however left its full-year steerage unchanged.

Final month, Aston Martin stated it had agreed an electrical car expertise tie-up with Lucid Group, which can also be backed by Saudi Arabia’s sovereign wealth fund.

Aston Martin’s longstanding monetary woes have made it more and more reliant on companions for expertise that different automakers think about core to their merchandise.