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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.

Final Spectre trailer drops, still looks awesome

Well, here we are. After all the teasers, behind-the-scenes photos and videos, and wrecked Aston Martins, we have the final trailer for the newest James Bond flick, Spectre. Through all the leaks and other trailers, we've got a pretty good idea as to how many vehicular set pieces there will be when Spectre hits trailers. Obviously, the premiere spot will be the chase between 007's Aston Martin DB10 and the Jaguar C-X75 of baddy Mr. Hinx, while there looks to be a wintry exchange featuring a Range Rover Sport SVR, some Defenders, and a plane. This trailer also shows some kind of pickup truck – we're guessing it's a Toyota Hilux – t-boning an older Jaguar XJ, which we think is new footage. Of course, there's a lot more action beyond the automotive variety. There's a helicopter sequence, gunfights, a building collapse, and we get our very best look at the film's main villain, played by a Max von Sydow/Blofeld-channeling Christoph Waltz. Check out the trailer, available at the top of the page. Spectre hits US theaters on November 6.

Aston Martin sues supplier Envisage over copyright infringement

Automakers don't make the entire cars themselves. They typically design and engineer them, outsource many of the components to outside suppliers, and put them together at assembly plants. Farming out work to those suppliers can result in some leaks in the automaker's intellectual property, but while that's typically covered in extensive legal documents, disputes can arise. And in this case, it's arisen between Aston Martin and one of its suppliers. That supplier is the Envisage Group, a British firm based in Coventry that has, among its various clients, performed design work for Aston since 2007 and supplied parts and tooling since 2011. That means it has access to certain proprietary information regarding Aston and its products, and now the automaker is claiming the supplier has taken unlawful advantage of that access and its copyrights to further its other businesses. Among its other services, Envisage operates a coachbuilding operation that handles the production of vehicles like the Eagle's customized Jaguar E-Types and the Speedback GT for David Brown Automotive. The latter, pictured here, bears more than a passing resemblance to classic Astons, and the company name itself suggests a certain affiliation as well. However both Aston Martin and David Brown Automotive insist that the lawsuit is unrelated. In correspondence with Autoblog, the latter sent the following statement: Following speculation in recent press reports that David Brown Automotive and Speedback GT are the subject of, or involved in, legal proceedings by Aston Martin Lagonda Limited against Envisage Group Limited, David Brown Automotive can confirm that it, and its products, are in no way implicated and the production of our vehicles continues unaffected by the litigation. According to the report from the Telegraph, the lawsuit filed with the UK's High Court makes specific mention of badges, wheels and headlights belonging to Aston Martin that Envisage has allegedly used in promoting its services. Featured Gallery David Brown Automotive Speedback View 18 Photos News Source: The TelegraphImage Credit: David Brown Automotive Design/Style Government/Legal Aston Martin lawsuit court david brown automotive david brown automotive speedback