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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.

F1 to offer track rides with Alonso, Verstappen, Hakkinen

It's not often that a Formula 1 fan gets to experience what an F1 track feels like from the point of view of a racing driver. An in-car camera just goes so far, and tracks are not always open for the public, or even for track days. Now, a special Hot Laps program announced by Formula 1 and Pirelli means some lucky participants are able to take part in ridealongs on the same F1 tracks where all the racing action happens. The first two manufacturers that have announced their participation are Aston Martin and McLaren, and as a result the Vantage and 720S will be used in the program. More car manufacturers have reportedly signed up, and they will be named in the near future. The first Hot Laps will be driven at the 2018 Bahrain GP. The best is still to come. The professional racing drivers that have enlisted for the Hot Laps program are Daniel Ricciardo and Max Verstappen for Aston Martin, and the McLarens will be driven by Mika Hakkinen, Lando Norris, Fernando Alonso and Stoffel Vandoorne. Imagine being taken for a ride by such wheelmen! Just doing a grocery run with Alonso behind the wheel would probably be exciting enough, let alone getting a track experience. Of course, the one thing that hasn't yet been mentioned is the price. We can't imagine a lap can be very modestly priced in this case, but it will sure be a once-in-a-lifetime thing. Unless you can afford two laps, that is. Related Video: Motorsports Aston Martin McLaren Luxury Performance Pirelli Max Verstappen lando norris

Aston Martin hits the open water with Quintessence Yachts

We know, we know: life is tough. You drive your Aston Martin Vanquish Volante from your mansion to the yacht club, and then what? Just get on board any old yacht? Of course not. You're going to need an Aston Martin speedboat, and fortunately that's just what we have here. Born of a partnership among the British automaker, Dutch boatbuilder Quintessence Yachts, and the naval architects at Mulder Design, is the upcoming AM37. The speedboat, as you might have guessed, measures 37 feet long – which is a little more than two Rapides parked end to end (or nearly four Cygnets). Though there's only three images, we can already see the vessel's design takes cues from Aston's luxury GTs, particularly in the driving console. It looks a lot sleeker, at any rate, than the Voyage design we saw a few years ago, and at least as cool as the 20-foot speedboat Ian Callum designed to go with the Jaguar XF Sportbrake. Full technical details have yet to be released as well, but Quintessence says the vessel will feature a "hi-tech composite structure allied to luxury sports car-like handling, performance and comfort." It'll also incorporate voice control and touchscreen display for the navigation and multimedia system. The yacht will be offered in two versions: the AM37 with a top speed of around 50 knots (the maritime equivalent of 57 miles per hour) and the AM37 S that'll top out at 60 knots (nearly 70 mph). That's mighty fast on the open water, with no stop signs or traffic gridlock to slow you down. Just the waves on the open water. We don't know what will motivate the vessel to such speeds, but we're hoping for a marine version of Aston's signature 6.0-liter V12. Maybe even two of 'em. It wouldn't be unheard of, after all: Lamborghini has made boat engines, and a Ferrari-powered hydroplane set a longstanding record in the 1950s. Far more than the usual branded wristwatch or luggage, we're looking forward to seeing this one (quite literally) launch. Driven to succeed: Quintessence Yachts and Aston Martin • Exciting sports car firm association creates a series of unique powerboats • Stunning style, advanced technologies and exquisite craftsmanship • Highest standards of yacht design and construction 29 April 2015, Gaydon: Quintessence Yachts is today unveiling the first details of an exciting association with famous luxury British sports car maker Aston Martin which will result in the creation of a unique series of stunning new powerboats.