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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.

2015 Aston Martin Vanquish [UPDATE]

There's something really special about an Aston Martin Vanquish. It's not my favorite model in the British automaker's range – I'm more of a Vantage guy, if I'm being choosy. But every time I drive one, I feel like I'm piloting something fit for royalty, $300,000 price tag and all. It's stunning to look at, even in the rather drab shade of gray pictured here. It makes an absolutely killer noise, the free-breathing V12 firing from beneath the hood and out the back with a truly intoxicating sound. And from behind the wheel, it feels like a truly proper grand tourer. Well, almost. The one major hiccup with the Vanquish I drove last year was its six-speed automatic transmission. In a word, it was awful. Really jarring shifts, delayed manual control through the paddles, and really, just a hugely misaligned piece of an otherwise excellent puzzle. So I was happy to hear that for 2015, Aston Martin had fitted a new, ZF-sourced, eight-speed unit – you know, the transmission being used by automakers like BMW, Jaguar, Audi, and many more. I normally have zero issues with this silky gearbox. But in the Vanquish, it wasn't smooth sailing like I expected – it feels like it still needs some final calibrations. But that doesn't make this car any less special. Drive Notes I love this engine. The 5.9-liter, naturally aspirated V12 makes 569 horsepower and 465 pound-feet of torque, and it absolutely loves to rev. That's a good thing, since the siren song of the Vanquish's V12 is most pronounced at higher engine speeds. In fact, it's not really all that audible right from the get-go. You have to work it up past 2,500-3,000 rpm before this thing really starts to sing. But when it's turned up to 11, it's one of the best-sounding engines I've ever heard. That said, getting the Vanquish going is kind of an awkward process. There's a surprising momentary lack of power delivery right at throttle tip-in, and then the Vanquish suddenly jolts forward. It's alarming – I found myself raising an eyebrow and yelling "GO!," especially when trying to quickly merge into the traffic flow. But it'll go, when it's ready, and hitting 60 miles per hour takes just 3.6 seconds. The transmission is still an issue here. When left to its own devices, it doesn't have a problem finding the right gear for the occasion, but the actual shifts don't fire off with the smoothness and quickness that I've come to expect from this tranny in other models.

Aston Martin find unique way to recycle scraps of leather

Ever wonder what happens to the scraps of leather left over after skilled craftsmen are done upholstering the interior of a luxury automobile? There's a lot of hide left over, as we've seen first-hand from visiting the upholstery workshops at various factories, but much of the waste is made up of tiny cutoffs. Some of those pieces might be used for repair kits, some scraps for smaller pieces of merchandise, while others might be sold to nearby craftsmen. Aston Martin found a different use for some of its leftovers. The British automaker put down a canvas in the VIP atrium at its headquarters in Gaydon, UK, and equipped a team of artisans with a whole pile of leather samples. What they did with it is perhaps the most compelling example of recycling we've seen to date. The end result, as you can see from this latest video, is an artistic representation of the Vanquish, made entirely out of leather – as if the interior of the luxurious sports car isn't already clad in enough of the stuff. Of course, it doesn't have the Vanquish's 6.0-liter V12 and its 568 horsepower, so unlike most Astons, it won't be going anywhere in a hurry. Perhaps it could be hung in the upholstery workshop for future workers to admire. Related Video: