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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 gets to work on DB9 successor

Introduced over a decade ago, the DB9 is by now the oldest model in the Aston Martin lineup. It predates the arrival of the V8 Vantage, outlasted the Virage and DBS that spun off from it, and outlived the One-77, V12 Zagato and Cygnet that have all come and gone over the length of its tenure. But soon the current DB9 will be retired. In its place, we're looking forward to an all-new model to spell the beginning of the end of Aston's long-serving VH architecture and restrict the ubiquity of the 6.0-liter V12. In their place, as we well know, the DB9's successor will be based on an all-new aluminum platform and be powered by a 4.0-liter twin-turbo V8 to be furnished by Mercedes-AMG. Though AML insists that the engine is being developed by both parties and built by AMG to Aston's exact specifications, Autocar reports that it will be the same unit being developed for Mercedes' own models, with modifications limited to ECU, exhaust and possibly turbo boost, but with no internal modifications. Even as-is, the engine is expected to produce almost as much power as the DB9's current V12 but a bit more torque – which, combined with the lower weight, ought to make Aston's new core GT quicker than the one it will replace. Rather than using the new eight-speed automatic introduced for the latest twelve-cylinder Vanquish and Rapide S, the current DB9 is expected to continue using the old six-speed slushbox until its replacement goes with Mercedes' new nine-speed unit. Expect a step forward in styling but with familiar Aston cues, potentially previewed by the Zagato one-off pictured above and the new Lagonda sedan, when it arrives in 2016. The big question is what Aston will call the next-gen DB9. It skipped the DB8 when naming the replacement for the DB7 – ostensibly to show how big a step it was, but probably also to avoid confusion over its cylinder count. We couldn't imagine Aston going backwards in its naming scheme, but whether it sticks with DB9, moves on to DB10 or jumps to DB11, one thing's for sure: it will definitely carry the initials of the company's former president David Brown. When reached for comment on the development of the DB9 successor and what that would mean for the future of the V8 Vantage, Aston Martin spokesman Matthew Clarke told Autoblog: "Part of our agreement with Mercedes is specifically for V8 engine development but never have we anywhere made any comment as to where such engines would or wouldn't be used."

Are supercars becoming less special?

There's little doubt that we are currently enjoying the golden age of automotive performance. Dozens of different models on sale today make over 500 horsepower, and seven boast output in excess of 700 hp. Not long ago, that kind of capability was exclusive to supercars – vehicles whose rarity, performance focus, and requisite expense made them aspirational objects of desire to us mortals. But more than that, supercars have historically offered a unique driving experience, one which was bespoke to a particular model and could not be replicated elsewhere. But in recent years, even the low-volume players have been forced to find the efficiencies and economies of scale that formerly hadn't been a concern for them, and in turn the concept of the supercar as a unique entity unto itself is fading fast. The blame doesn't fall on one particular manufacturer nor a specific production technique. Instead, it's a confluence of different factors that are chipping away at the distinction of these vehicles. It's not all bad news – Lamborghini's platform sharing with Audi for the Gallardo and the R8 yielded a raging bull that was more reliable and easier to live with on a day-to-day basis, and as a result it went on to become the best-selling Lambo in the company's history. But it also came at the cost of some of the Italian's exclusivity when eerily familiar sights and sounds suddenly became available wearing an Audi badge. Even low-volume players have been forced to find economies of scale. Much of this comes out of necessity, of course. Aston Martin's recent deal with Mercedes-AMG points toward German hardware going under the hood and into the cabin of the upcoming DB11, and it's safe to assume that this was not a decision made lightly by the Brits, as the brand has built a reputation for the bespoke craftsmanship of its vehicles. There's little doubt that the DB11 will be a fine automobile, but the move does jeopardize some of the characteristic "specialness" that Astons are known for. Yet the world is certainly better off with new Aston Martins spliced with DNA from Mercedes-AMG rather than no new Astons at all, and the costs of developing cutting-edge drivetrains and user interfaces is a burden that's becoming increasingly difficult for smaller manufacturers to bear. Even Ferrari is poised to make some dramatic changes in the way it designs cars.