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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.

Rare 1958 Aston to be auctioned in Tennessee

Decaying Aston Martins are showing up on the auction block all over the world. The final, original DBS recently went up for bid in the UK, and to go up for sale on the other side of the Atlantic, a 1958 DB Mark III was recently found wasting away in a Tennessee garage. "I didn't know much about it, except it was old and worth some money," said owner Tammy Maxwell to Clarksville Now. Her husband bought the Aston in Hawaii in 1975 and carried the car along with him until the family settled in Tennessee. He originally intended to restore it but an illness got in the way. Now, the vintage coupe is crossing the auction block in Cumberland Furnace, TN, on April 11 through Auction World Gallery. This example is in very rough shape, though. The paint and trim are gone from the entire front end, and the interior is a rat's nest of parts. There's no mention of whether the powertrain is intact, although a crankshaft is visible sitting in the boot and possibly a carb on the passenger seat. It's going to be a big project to get this Mark III back on the road. According to Aston Martin, the company built just 552 examples of the DB Mark III, and 462 of them were the coupe body style shown here that featured a hatchback. Power came from a 2.9-liter inline-six routed through a four-speed manual gearbox. The car also grabbed a unique footnote in pop culture history as James Bond's car in the book Goldfinger, rather than the DB5 in the film version.

Aston Martin DB11 fully exposed before Geneva debut

You're forgiven if you don't remember much about Daniel Craig's last adventure as James Bond 007 in Spectre. The movie was largely forgettable, but the Aston Martin DB10 built for the film was nice to look at, until it took a swim in the Tiber. Since the DB10 was never intended for production, the DB11 is on its way as a DB9 replacement. We've been seeing camouflaged DB11 prototypes running around Europe for a while now. And now, thanks to a photographer taking a picture when he or she wasn't supposed to, and posting that image to Twitter, we can show you what the front of the upcoming DB11 looks like well ahead of its probable Geneva Motor Show debut. Twitter user @Rudybenjamin13 posted the photo you see below earlier today, although with the caveat that the account was just sharing the photo and didn't take it. Whether that's the case is neither here nor there. On me dit que je risque d'etre emmerde donc tant qu'a faire ... #astonmartin #DB11 . Je relaie .... pic.twitter.com/Xle3BkjJF9 — RudyB001 (@Rudybenjamin13) February 17, 2016 It's a much more traditional front fascia than the DB10's concept-car aesthetic. Bigger, road-legal headlights and a more traditional Aston grille bookend an incredibly sculpted hood. Where the DB10 was shark-nosed and aggressive, the DB11 looks traditional and profoundly powerful. It will fit right into the lineup, which can't quite be said for the DB10, whatever you think of it. From this angle, it's both expected and satisfying. We can't wait to see it in the flesh, hopefully in Geneva. Related Video: Spy Photos Aston Martin aston martin db9 aston martin db11 spectre aston martin db10