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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.

Autoblog Podcast #402

Episode #402 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Brandon Turkus talk about the Audi A3 TDI Challenge and luxury car features we not-so-secretly love. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #402: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: Audi A3 TDI road trip Luxury features we're sort of ashamed we love In The Autoblog Garage: 2014 Land Rover LR4 2015 Aston Martin Vanquish 2015 Dodge Challenger R/T Scat Pack Hosts: Dan Roth, Steven Ewing, Brandon Turkus Runtime: 01:17:40 Rundown: Intro & Garage - 00:00 Audi A3 TDI Challenge - 42:51 Luxury Features We Love - 01:00:05 Q&A - 01:09:17 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Podcasts Aston Martin Audi Dodge Land Rover Diesel Vehicles Luxury Performance aston martin vanquish

2017 Aston Martin DB11 First Drive

England's history is filled with war. The last 70-plus years of peace and prosperity are an anomaly. Aston Martin, the nation's only independent carmaker, has similarly weathered strife – often of the financial variety – for most of its existence. Now Aston seeks stability. Its plan calls for new vehicles, a crossover even, and some electric propulsion for good measure. This is still a few years away. To get there, Aston will rely on its specialty, the sports car. Enter the 2017 Aston Martin DB11. While the company transitions, the latest in the DB line is already transformed. It's the successor to the 13-year-old DB9 (the DB10 was James Bond's car in Spectre) and has a new V12 with twin turbos cranking out 600 horsepower. The car is based on a new aluminum architecture that's lighter and stiffer than the DB9's, so the DB11 handles better. Naturally, the design is striking. That's not a cliche. Is all of this enough to sway some Ferrari, Porsche, and Bentley loyalists to Aston's fold? We've come to the gorgeous Italian region of Tuscany to find out. Taking the wheel on a sun-drenched morning, we head for Monte San Savino where a rustic lunch awaits. The V12 immediately grabs our attention. The note is buzzy at first, grows agitated, and then the sound morphs into a growling shout. Naturally aspirated engines are more visceral, but the DB11's turbo 12 is nothing to scoff at. The car sounds best in Sport Plus mode, which gives the engine and eight-speed transmission their most aggressive character. We lay on the throttle and the DB11 shoots forward, its long hood pointing the way through the countryside. The names of the villages roll off the tongue as the signs blur. Montisi. Montalcino. Trequanda. Florence and Pisa lay tantalizingly just outside of our route. Romantic as they sound, it's easy to resist Italy's magic. Its drivers are frickin' crazy. Thankfully, the DB11 has quick reflexes. The steering is moderately weighted, and the suspension stays flat and controlled even when we urge the car aggressively through tight curves. The sticky 20-inch S007 Bridgestone tires stay planted and keep us confident. Things only get unruly during hearty acceleration that causes the tail to come out. It happens rather easily. Most of the time the ride is a comfortable experience, as we expect from a grand tourer. With the sedate GT mode locked in, we examine the cabin. Our DB11 has subdued black leather accented by gold stitching.