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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.

LeTV's SEE Project will introduce new EV in Shanghai

It's very unlikely that many people here in the states will have heard of Beijing-based LeTV. Aston Martin, on the other hand? That's pretty stylish company. LeTV is working on an electric-vehicle project called SEE (Super Electric Eco-system). The concept version is slated to debut at the Shanghai Motor Show next April. LeTV says that that same month, the car will "roll of the production line," as well. That sounds awfully optimistic, to us, but we'll just leave that alone for now. The racing-car-shaped vehicle, which will have "high- and low-powered" versions, is about 11'5" long and 5'4" wide. That's about a foot shorter and a few inches narrower than a Mini Cooper. The twist, such as it is, comes from the fact that LeTV says it will develop the model with the help of both Aston Marin and BAIC Motor Corp., which adds a shade of legitimacy to the project. Aston Martin is in the process of launching its battery-electric Rapide sedan, which will have 800 horsepower and a 200-mile single-charge range, so that would ostensibly be a competitor to Tesla. The Rapide EV could run as much as $250,000. As for BAIC, is has been looking to expand its role in the plug-in vehicle sector since 2009, when it debuted a division called Beijing New Energy Automotive Co. Just last month, BAIC opened an electric-vehicle research and development center in California's Silicon Valley, the company's first outside China. You can take a look at LeTV's press release below. LeTV Partners With Aston Martin to Deliver Next Generation Electric Vehicles BEIJING and BANGALORE, October 6, 2015 /PRNewswire/ -- The most significant (monetarily) deal that came out of Angela Merkel's visit to India was that of a Euro 1 billion solar power fund solidifying India's stance to develop 100GW solar capacity by 2022. These are positive moves in a time when the focus on the effects of climate change are intensifying and how economies across the globe decide to combat the effects of it. One particular way in which India could benefit hugely from alternative fuels is from the perspective of vehicles. The nation recently joined the Electric Vehicles Initiative, a forum for global cooperation on the development and deployment of Electric Vehicles (EVs). With an interest in the Indian market, LeTV, a multinational company based in Beijing, announced its electric car plan on December 9th, 2014, when its founder, Mr.

Inside the Aston Martin Heritage Trust, the company's secret museum

The Aston Martin Heritage Trust Museum has been in existence since 2002. It houses the official archives of the Aston Martin Lagonda Company, as well as those of the Aston Martin Owners Club, at the behest of which the Museum was founded back in 1998. It also houses a rotating collection of distinctive and historically significant Aston Martin vehicles, cherry picked from a century of the automaker's exquisite existence. Unfortunately for those besotted with the brand, as I am, the AHMT is located on the periphery of the exurbs of nowhere, in a restored 14th century barn on a dirt road, blocks off the river in the wee Midlands village of Drayton St. Leonard. An address is not published. The only indication that you might be in the right place is an almost intentionally innocuous government tourism placard, placed somewhat near the turnoff. "We used to maybe get a hundred visitors a year before they put up the sign," says AMHT Curator Donna Bannister, an American of equally mysterious provenance. "Now we get almost a hundred per month." Lucky are the souls who find the AMHT (my cabby wasn't among them; I had to walk a bit), because it houses, in its cramped Middle Aged quarters, some real treasures. Greeting me when I entered was a bare-metal-nosed 1921 A3, the oldest existing Aston Martin in the world, which was bought at auction in 2000 and restored to driving condition via the generous underwriting of Sheik Nasser of Kuwait, who is apparently a huge AM collector. "It won Kop Hill in 1923," Bannister says. "We recently took it back there, and to the Windsor Concours d'Elegance. Of course the Royals are big fans of the Aston brand." There's also a 1934 Ulster BLB 684, the only remaining one in a 2+2 configuration. This car is a driver as well. "Club members can hire it out," Bannister says. "Though because it's quite difficult to drive – it has the clutch in the center, and the gas and brake on either side – only a few do." There is a passel of more recent notables, like the 2000 V12 Vanquish cutaway, an auto show maquette meant to demonstrate the fruits of Ford's huge investment in the brand at the start of this century. There's a pre-production, gloss white 2013 Vanquish Volante, which was used for photos and promotion as well, but never registered due to some inconsistencies in the paint. There are display engines from the DB4GT, the Lagonda V8, and the twin-supercharged Vantage (swoon!).