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Aston Martin to raise funds for new models including CUV, hybrid

Aston Martin CEO Andy Palmer named three leads for new vehicle programs when he took the reins, now the company is looking for the money to give those leads something to do. Reuters reports that the Gaydon firm is considering debt or equity financing to raise 100 to 150 million pounds ($156M to $234M US) in funding for "an expansion from the current model range," according to an unnamed source. On top of that investment round, Aston Martin is overhauling its working capital streams to unlock more funds. As one of the industry's few remaining independent carmakers, the company has an intense five years ahead of it, working to revamp its current vehicles with a 500-million-pound investment, entering new segments to grow sales to roughly 10,000 units annually from 4,200 cars in 2013, and pay down hundreds of millions of pounds in current debt. The big high notes observers will be looking for over the next few years are the successor to the DB9, pegged for 2016, profitability predicted in 2017, a huge debt note due in 2018, and the formal end of the recovery period in 2020. Our own eyes will be locked on the DB10 in Spectre, naturally, and the Lagonda-honoring Taraf in other markets, hopefully. At least one of the new vehicles is expected to be a crossover, a segment Aston seemingly cannot ignore now that Bentley and Rolls-Royce are committed to making plays there. However, Reuters says an official announcement of what we can expect won't come until the 2015 Geneva Motor Show. Among the other models said to be up for funding? Sedans (perhaps including a Rapide replacement?) and an unspecified hybrid.

Aston Martin working on a limited-edition DBR1-inspired speedster?

The Supercar Blog has heard from its supercar-privy sources that Aston Martin might be working on a new speedster. The putative roofless model could be inspired by the most important and most valuable racer in Aston Martin's history, the DBR1 that took overall honors at the 24 Hours of Le Mans in 1959. Thought to be limited to just 88 units, TSB said the carmaker might have held a VIP preview event during Monterey Car Week last month. If the English luxury maker is developing such a model, we can probably declare the speedster era officially open for business after the limited-edition Ferrari SP1 and SP2 Monzas, Porsche 911 Speedster, and the Ultimate Series speedster that McLaren recently admitted is on the way. As with the Aston Martin, all of the other high-bucks open-sky models take inspiration from racers of yesteryear.  Furthermore, if Aston Martin really has such plans, the carmaker would be re-opening a six-year-old chapter in company history. In 2013, Aston Martin unveiled the CC100 Speedster (pictured) at the 2013 Nurburgring 24-Hour race, created in just six months to celebrate the 100-year anniversary of Lionel Martin and Robert Bamford deciding to build vehicles together. The CC100 was built on the VH platform utilized by the brand's production cars, and used a 6.0-liter V12 with 565 horsepower to do 0-60 mph in four seconds and reach a top speed of 180 mph. The carmaker built two of them, sold to collectors very close to the brand. Today's DBS Superleggera platform and its 5.2-liter, 715-hp V12 could make a suitable base, and who knows, Aston Martin — unlike Ferrari or McLaren — could go all the way and swap the DBS' eight-speed automatic for a manual transmission. Another site said the speedster impetus comes from "the high interest demonstrated by multiple collectors." No one has any insight on the symbolism of 88 units, though. Aston Martin did release a series of Dragon 88 models in 2012 for the Asian market, named for the auspicious omens associated with the number 8 in Chinese culture, and the Interush International team entered a #88 Vantage GT3 race car in the 2015 GT Asia Series, but that seems a gossamer thin connection. The Aston Martin One-77, after all, had a lot of sevens in its spec sheet, but was half named for its production volume. If there is a vintage-themed speedster on the way, we'll know more when Aston Martin decides to admit it.

F1 redemption beckons for Vettel after miserable end at Ferrari

PARIS — Sebastian Vettel is feeling optimistic about his new Formula One career with Aston Martin after turning the page on a miserable last season with Ferrari. Things went from bad to awful for the four-time F1 champion in 2020. He had just one podium finish and ended 10 of 17 races outside the top 10 last season amid a tense atmosphere worsened by the fact Ferrari did not offer him a new contract. “The whole year was a challenge. IÂ’m obviously not happy with how last year went in terms of performance, in terms of my performance," he said. “There are things that didnÂ’t go well and things I would have liked to go differently. ItÂ’s not a secret that at stages I wasnÂ’t at my happiest." Last year was a huge fall from grace for Vettel, whose confidence was already shaken after he lost the 2017 and 2018 titles to Mercedes driver Lewis Hamilton, despite leading both championships at the halfway stage. A driver who still shares the F1 record with Michael Schumacher for most wins in a season — 13 with Red Bull in 2013 — and has 53 wins among his 121 podiums found himself outclassed by his junior teammate Charles Leclerc in 2019 and 2020. When Leclerc was given a lucrative new contract through 2024 — and Vettel wasn't even offered one —it became clear who was considered number one in the team. The frown lines grew deeper on Vettel's face as he finished the last three races of 2020 in 13th, 12th and 14th. “It hadnÂ’t been to my standards. IÂ’ve never really cared what people think or say, or write," Vettel said. “ThatÂ’s why itÂ’s important IÂ’m at peace with myself. (I have) very, very high expectations of myself.” He even considered retiring but a move to Aston Martin has rekindled the 33-year-old German driver's enthusiasm. “IÂ’m not too old, there are older drivers returning to the grid," he said, referring to 39-year-old Fernando Alonso. “I donÂ’t think itÂ’s an age thing, I think itÂ’s more a question of (whether) you have the team and the car around you.” The Aston Martin team runs on Mercedes engines and is owned by Canadian billionaire Lawrence Stroll, whose son Lance Stroll is the team's other driver. The plan is to make Aston Martin a title contender within three to five years. Vettel suggested the atmosphere at Aston Martin is less stuffy than it was at powerhouse Ferrari. The Italian manufacturer with its bright red car remains the most iconic name in F1 history.