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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.

Castrol Nexcel is an oil change in a box

Oil changes are a vital part of car ownership. For some this simple bit of maintenance gives them a sense of accomplishment and a closer connection to their car. Others just find it a hassle. Castrol might have a compromise with new tech called the Nexcel that packages the oil and filter into a single, easily removable container. The company claims switching the unit out takes just 90 seconds. Instead of draining the oil for a regular change, the whole Nexcel is replaced each time. Castrol then retrieves the used containers and recycles the fluids inside into other lubricants. The exclusive cadre of ultra-wealthy buyers for the track-only Aston Martin Vulcan get to be the first ones to find out if the Nexcel lives up to the hype. And don't worry, the container can reportedly stand up to the hypercar's punishment. According to Castrol, the Nexcel has been tested to perform at up to 1.8G and can flow as much as 158.5 gallons of oil a minute. The tech also allows Castrol to create specific oil blends to match to different engines. "Today, you can't guarantee the right oil will be used, so the degree to which oils can be tailored is limited. Nexcel is different and can go further. The oil cell enables a concept we call precision lubrication," a spokesperson said to Autoblog. Assuming the Nexcel is a success, Castrol estimates that it could arrive in the first road car in about five years. The company already claims to be in discussions with "several" automakers about potentially implementing the tech. While changes would be far quicker, some enthusiasts might balk at the idea of being locked into oil from just a single brand, though. CASTROL REINVENTS OIL CHANGE WITH NEXCEL: THE REVOLUTIONARY TECHNOLOGY THAT MAKES OIL CHANGES QUICK, SMART AND SIMPLE The Nexcel oil cell, an easy-to-change unit containing both engine oil and filter delivers superior engine performance and improved environmental sustainability The new technology allows your oil to be changed in around 90 seconds, more than 13 times faster than a conventional oil change of 20 minutes The Aston Martin Vulcan track-only supercar will be the first vehicle featuring Nexcel technology LONDON, Thursday 8th October 2015 – Today, Castrol launches Nexcel, a new revolutionary technology that marks the most significant oil change innovation in automotive history.

Lotus and Aston Martin to hook up?

This has been a tumultuous year for Lotus - to say the least - from the company being sold off back in January to its CEO Dany Bahar being fired in June to its questionable financial status and rumors of the British automaker being sold off to another automaker. First, we heard that Volkswagen was interested in acquiring Lotus and parent company Proton, a rumor that was later dismissed. Now Automobile is reporting that fellow Brit Aston Martin could be in the market to work with or possibly even merge with Lotus.
While this is pure speculation at this point, such a venture could prove to be beneficial for both independent companies. That's because with Lotus focused on lightweight, relatively affordable sports cars and Aston Martin producing high-end performance cars, there is virtually no product overlap between the companies. The article suggests that a person or company wanting to merge these two automakers would have to raise between $1.1 billion and $1.6 billion in order to make a go of it, however.
We're not sure what to think of this latest rumor, but anything that can help get the struggling brand back to health at least has our interest.