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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.

2016 Pebble Beach Concours d'Elegance: It's all in the details

It's no secret that Pebble Beach is an ode to gorgeous, and mostly, classic cars. The car show may be a place for automakers to showcase extremely expensive cars to wealthy buyers, but it's also one of the go-to places for enthusiasts that love automobiles and culture. While it's easy to be overwhelmed by the overall beauty of a car, the real magic often needs closer inspection to be realized. Every car at Pebble Beach is a work of art, but the true beauty of the vehicles lies in the details. And Autoblog's photographer, Drew Phillips, managed to capture the details on some gorgeous cars. From the Lamborghini Miura's exquisite steering wheel to Rolls-Royce's Spirit of Ecstasy, it's all at Pebble Beach. We think the details on some of the cars are prettier than the cars themselves, but don't take our word for it. Check out the beautiful gallery above and enjoy the tiny bits and pieces behind some of the prettiest cars in the world. Related Video: Featured Gallery 2016 Pebble Beach Concours d'Elegance Details View 75 Photos Image Credit: Copyright 2016 Drew Phillips / Autoblog Misc. Auto Shows Aston Martin BMW Ferrari Lamborghini Rolls-Royce Pebble Beach

Aston Martin announces Rapide E as its first all-electric model

Aston Martin has announced official specifications for its first battery-electric model, which will be the Rapide E. Developed together with Williams Advanced Engineering, the 2019 Rapide E will have two electric motors good for a total of 610 horsepower and 700 pound-feet of torque. The Rapide E four-door, which will be produced in a limited run of 155 units, will be good for 155 mph. Its WLTP range target is said to be over 200 miles, and an hour of charging is good for 185 miles, using a regular 400-volt 50kW charger. Aston says the car's 800V battery system can also be charged with a 100kW+ charger at a rate of over 5 miles per minute. The electric powertrain is where the Rapide S's six-liter V12, gearbox and fuel tank would normally reside, to keep weight distribution in check; using composite materials and lightweight alloys, Aston has been able to meet the Rapide E's weight targets. To beat the aerodynamics of the Rapide S and to make it as silent as possible, both the car's exterior and underbody have been given a makeover from an EV development viewpoint and the low-rolling-resistance Pirelli P-Zero tires even feature noise-canceling foam inside them. As Aston is still in the business of making sports cars, the Rapide E's performance must be up to par: It reaches 60 mph in less than 4 seconds, and the 50-70 mph overtaking time is just 1.5 seconds. Aston says these figures can also be reached with a battery that is less than fully charged – the target is for "maximum performance on-demand throughout majority of the battery state of charge window," to put it succinctly. Aston's benchmark is that the Rapide E is capable of a full Nurburgring lap without any derating of the battery, with the electric version able to give a hassle-free performance expected of an internal combustion car. Perhaps that is a veiled reference to Teslas that have experienced overheating problems in track use. Aston Martin also states that it has strived to keep the Rapide E feeling like an Aston Martin, especially compared to the V12-engined Rapide S sibling. For Aston, this has meant chassis and electric powertrain tuning to retain the Rapide S's handling characteristics and "feel," including using a limited-slip differential through which the twin electric motors deliver their power — and keeping an eye on the springs, dampers and software integration to keep the car from feeling ponderous or clunky.