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Aston Martin announces $306M in funding to build DBX, 'other new luxury vehicles'

Aston Martin has just gotten one step closer to building a crossover, as the British outfit has secured a 200-million-pound (about $306 million at today's rates) infusion of capital from its leading shareholders. The money will allow Aston Martin to develop "a new vehicle based on the DBX concept," although just how closely the production model will adhere to the concept's styling is unclear. Andy Palmer, the company's CEO, also hinted at other models being added, thanks to the funds. "This additional long-term funding, will enable us to add extra model lines and broaden our presence in the luxury market segment by the end of the decade. The DBX concept has generated interest far beyond our expectations," Palmer said in the attached statement. "The additional investment announced today will allow us to realize the DBX and other new luxury vehicles that will form the strongest and most diverse portfolio in our history." It's unclear what these "other new luxury vehicles" will include. Previous reports have indicated a Lagonda-badged replacement for the aging Rapide will be added to the range, although considering the age of the rest of Aston Martin's lineup, it's a safe bet that at least some of this money will also be put towards vehicles beyond the new CUV and sedan. Scroll down for the full press release from Aston Martin. Related Video: ASTON MARTIN LAGONDA ISSUES GBP200 MILLION FUNDING FOR PRODUCT EXPANSION • Investindustrial and Tejara Capital led a further GBP200 million in investment capital in the form of preference shares • Enables production of DBX luxury crossover, building on range of iconic luxury sports cars • FY 2014 revenues of GBP468 million and adjusted EBITDA of GBP66 million announced 30 April 2015, Gaydon: Aston Martin Lagonda today announced that with the leadership of its major shareholders, it has arranged additional committed funding of GBP200 million, enabling the 102-year old luxury sports car manufacturer to develop significant new luxury models that will drive the future of the company under its strategic business plan. The additional capital investment comes in the form of GBP200 million of preference shares; GBP100 million of which were issued on 29 April 2015 with the remaining GBP100 million – already subscribed for - to be issued in the next twelve months, and will further expand the previously announced investment plan. This major investment in new luxury models is at the core of Aston Martin's strategic vision.

Aston Martin and Mercedes-AMG formalize technical partnership

The development of a partnership between Mercedes-Benz and Aston Martin has been a long time coming. The news dates back to 2008, and over the five years since was supposed to lead to a rejuvenation of both the Maybach and Lagonda brands. That program ultimately fell apart, but the tie-in was forged afresh in July when the two automakers signed a letter of intent over a renewed partnership. And now that partnership has been formalized.
In a deal just announced, Mercedes-AMG will build a new V8 engine for Aston Martin that will power a new generation of luxury GTs for the British marque, presumably to replace the 4.7-liter V8 in the Vantage. The relationship appears to be similar to the one already in place between AMG and Pagani, only in this case, will involve Daimler taking as much as a five-percent stake in Aston Martin and an observer seat on Aston's board.
The technical partnership is also set to lead to the supply of electric and electronic systems, and could incorporate "additional areas of cooperation in the future." Whether that will include a fresh attempt at reviving Lagonda remains to be seen, as does the future of Aston's long-serving, Ford-based 6.0-liter V12 engine. But for now you can read the full announcement below.

Aston Martin Vulcan being converted to road-going spec

The Aston Martin Vulcan wasn't designed as a road-going vehicle, but the two dozen buyers who've plonked down the $2.3 million to buy one may soon be able to drive on public roadways. According to Autocar, British motorsports engineering company RML is preparing a road conversion option for the Vulcan, apparently with Aston's blessing. The process will reportedly involve testing the engine for emissions, mounting some new lights, and running simulated crash tests. The ride height will likely need to be raised and the gear ratios altered, but nothing will be done to compromise the vehicle's trackability (such as removing any part of the roll cage). The undertaking is expected to cost six figures, which buy another road-going Aston but is hardly a drop in the bucket relative to the Vulcan's purchase price. Certification on a single vehicle type basis might not be feasible in all markets, particularly here in the United States, where two out of the 24 being made are said to reside. "When we went to market, there was hesitation from a few prospective owners because it didn't have a road pack... but RML said they had the ability to do it," Aston Martin chief Andy Palmer told Autocar. "It has taken a bit of time to work out what's possible from an engineering perspective, but we expect four or five owners will take advantage of this. We have the sales of the last two cars currently under negotiation and it looks like the road conversion could be the closer on those deals." The Vulcan is Aston's take on the likes of the Ferrari FXX K and McLaren P1 GTR: a seven-figure supercar designed neither for the road nor for racing, but just for their owners' enjoyment. Like its rivals, Aston Martin organizes special track days for Vulcan owners as part of a complete program, but unlike those mid-engined hybrids, the Vulcan is naturally aspirated, with its engine up front. Lanzante previously announced a similar road conversion option for the McLaren. RML's expertise lies principally in constructing racing cars – particularly touring cars. It previously collaborated with Aston Martin on the AMR1 Group C racer from 1989 (not to be confused with the later LMP1 prototype). It has also undertaken a number of road-car projects, particularly for Nissan (where Palmer used to work), developing such unique concepts as the Micra R, Juke-R and Infiniti Q50 Eau Rouge. Related Video: