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Aston Martin to raise funds for new models including CUV, hybrid

Aston Martin CEO Andy Palmer named three leads for new vehicle programs when he took the reins, now the company is looking for the money to give those leads something to do. Reuters reports that the Gaydon firm is considering debt or equity financing to raise 100 to 150 million pounds ($156M to $234M US) in funding for "an expansion from the current model range," according to an unnamed source. On top of that investment round, Aston Martin is overhauling its working capital streams to unlock more funds. As one of the industry's few remaining independent carmakers, the company has an intense five years ahead of it, working to revamp its current vehicles with a 500-million-pound investment, entering new segments to grow sales to roughly 10,000 units annually from 4,200 cars in 2013, and pay down hundreds of millions of pounds in current debt. The big high notes observers will be looking for over the next few years are the successor to the DB9, pegged for 2016, profitability predicted in 2017, a huge debt note due in 2018, and the formal end of the recovery period in 2020. Our own eyes will be locked on the DB10 in Spectre, naturally, and the Lagonda-honoring Taraf in other markets, hopefully. At least one of the new vehicles is expected to be a crossover, a segment Aston seemingly cannot ignore now that Bentley and Rolls-Royce are committed to making plays there. However, Reuters says an official announcement of what we can expect won't come until the 2015 Geneva Motor Show. Among the other models said to be up for funding? Sedans (perhaps including a Rapide replacement?) and an unspecified hybrid.

Aston Martin considers offering new Lagonda Taraf outside of Middle East

Aston Martin officially took the wraps off its new Lagonda sedan in Dubai on Monday, revealing the luxury limousine in all its glory and revealing its nameplate as Taraf – derived from the Arabic word for "luxury" (not for some Kurdish starlet). A fitting name, since it will only be offered to select customers in the Middle East, where a large number of its '70s-era predecessors have found homes. But while the model was clearly and emphatically targeted at the Persian Gulf clientele, Aston Martin is reportedly considering offering the Lagonda Taraf in other markets as well. Both Car and Top Gear are citing Aston's new chief executive Andy Palmer on the matter from the unveiling in Dubai: "I can confirm today that we are also evaluating the opportunity to offer this Lagonda in other markets." Whether it would carry the Arabic name along with it, we don't know. Nor do we know, for that matter, if the US would be among those markets which Aston would consider selling the sedan. "We have enjoyed excellent levels of interest in the Lagonda and we are investigating possibilities for other markets besides the Middle East," said Matthew Clarke, the company's spokesman for the Americas, in correspondence with Autoblog. "However, we can't add any more or be any more specific at this very early stage." Understandable, of course, but we hope to hear good news in the near future.

Aston Martin launches Evolution Academy driver training program

No longer content with simply recruiting new talent when they're ready, young driver training programs are becoming increasingly vital to a racing team's success and continuity. But while most of those programs are run by Formula One teams like Red Bull and Ferrari, this time it's Aston Martin that's set up a network of its own. The British automaker, as any endurance racing fan will tell you, has a robust motorsports program, including works entries in the FIA World Endurance Championship, at the 24 Hours of Le Mans and the Nurburgring 24 Hours, to say nothing of the privateer teams it supports in other series around the world. And to feed it with new talent, it has launched the Evolution Academy. Designed for up-and-coming drivers between the ages of 17 and 25, the Aston Martin Evolution Academy will be limited to ten participants each season. Each trainee will be assigned a veteran professional racing driver from the Aston Martin Racing roster, get seat-time in Aston's simulator, and will be coached in everything from fitness and nutrition to marketing and sponsor recruitment. At the end of the program, the top of the class will be offered a contract to race full-time with the company, which would be a pretty plum assignment for any sports racing driver. The announcement was made at the Autosport International show in Birmingham, where Aston is showcasing its various Vantage-based racers. ASTON MARTIN RACING LAUNCHES LANDMARK EVOLUTION ACADEMY 7 January 2015, Gaydon: Aston Martin Racing is launching a young driver programme, the Evolution Academy, which offers a coveted 2016 Aston Martin Racing works driver contract to the most successful participant of the season. The academy, being launched at the Autosport International Show, is open to applications from drivers aged 17-25 competing in an Aston Martin racing car this season. It has been devised by the Banbury-based team to help support and develop young talent, as well as creating a breeding ground for Aston Martin Racing works drivers of the future. Successful applicants, limited to a maximum of ten, will be assigned a professional mentor from Aston Martin Racing's team of top GT drivers. In addition, they will be given fitness and nutrition assessments and advice; PR, marketing and sponsorship support; training sessions in an Aston Martin Base Performance Simulator; and Evolution Academy-branded apparel including a race suit and team kit.