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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.

Aston Martin closing deal with Force India F1 team

Aston Martin is returning to the Formula One grid. Only instead of starting its own team – or even taking control of an existing one – the British automaker is reportedly on the verge of announcing a new partnership with the Force India team. According to Autosport, the deal would see the team switch names from its current national identity to Aston Martin Racing. Beyond naming rights, however, the partnership could see the two outfits partner on technical collaborations as well. The Johnnie Walker whisky brand – a longtime McLaren partner – is said to be joining as a sponsor of the newly rebranded team, which has previously featured branding from whisky brands Royal Challenge, Whyte & Mackay, and Dalmore. The current engine deal with Mercedes (which owns part of Aston Martin) is expected to stay in place. Force India isn't the only team Aston Martin is said to have evaluated. Previous reports had linked the manufacturer of luxury GT cars to Red Bull, while Williams was also said to have been under consideration for such a partnership. Ultimately, however, it appears to be cash-strapped (and strong-performing) Force India that has sealed the deal, expected to be announced in due course. If the notion of an automaker sponsoring (but not running) an F1 team strikes you as odd, it isn't without relevant precedent. Infiniti has long sponsored the Red Bull team that is powered by its corporate cousin Renault. That deal was brokered while the Japanese luxury brand was chaired by Andy Palmer, who now runs Aston Martin. Aside from considerable achievements in sports car racing, the British firm only participated in F1 for a few races in 1959 and 1960. The deal would put an end to the Force India name that has adorned the team since Indian businessman Vijay Mallya took it over late in 2007. Mallya, it should be noted, helms United Spirits Limited, which produces all those beverages mentioned previously that have sponsored Force India. The team was founded in 1991 as Jordan Grand Prix, under whose name it ran until 2005 when it switched ownership and name first to Midland and then to Spyker. Mallya sold nearly half of the team's stake to the Sahara India Pariwar conglomerate in 2011. Since taking over the team, Force India has gone from a back-marker in tenth place to a solid midfield contender routinely landing sixth in the championship standings and currently running fifth this season.

Aston Martin Lagonda supersaloon gets official with first delivery

Over the past 67 years since Aston Martin acquired the Lagonda marque, the name has come and gone, but now it's back again. After an aborted attempt at reviving the brand with a much-criticized SUV concept at the 2009 Geneva Motor Show, Aston is building a new high-end sedan exclusively for the Middle Eastern market, and this is our best look at it yet. We first caught glimpse of the upcoming new Lagonda a few months ago when it was spotted undergoing testing, and Aston released preliminary details and a couple of teaser images just last month. But now it's shipping the first example for testing to the Sultanate of Oman on the Persian Gulf coast, and it has evidently allowed Oman Air and the Aston Martin Oman dealership to release a handful of photos. What we can see is a pretty handsome sedan that borrows stylistically from the original Aston Martin Zagato sedan that shocked the world in the mid-'70s, not to mention cues from the Zagato Centennial concepts revealed last year. It's possible this is Aston's new design direction, a bid to finally take it away from the gorgeous but overfamiliar styling of its current crop. The fresh look is more squared off, with narrower head- and taillights. It's also possible, of course, that this new look will remain specific to future Zagato-branded vehicles. Look close enough and you'll notice that the handsome sedan is wearing the Lagonda badge, not those of Aston Martin. Oman Air Partners With Aston Martin For Exclusive New Lagonda Test Date: 25 August 2014 World class luxury airline Oman Air is today, [TBC], proud to announce a key partnership with globally renowned British car manufacturer Aston Martin which sees the Middle Eastern carrier bring the marque's yet-to-be-launched Lagonda to Muscat as part of its early testing programme. Reviving the iconic Lagonda name from Aston Martin's renowned heritage, the brand new car is a top-of-the-range, luxury four-door super-saloon which has been designed exclusively for the Middle East market – and Oman's awe-inspiring mountains, deserts and state-of-the-art road network are providing the perfect backdrop for essential summer heat testing.