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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.

Drive an Aston Martin | The List #0568

Few cars can drum up feelings of intrigue like an Aston Martin. On this episode of The List, hosts Jessi Combs and Patrick McIntyre travel to England, the birthplace of Aston Martin, to drive the V12 Vanquish and learn more about this luxurious brand. From exploring narrow country roads to braving a rain storm on the track, we put this beautiful British sports car to the test. The 2016 V12 Vanquish is a sight to behold no matter the road, but there's something special about driving it around England. We visited the Aston Martin Works in Newport Pagnell, the site of an Aston factory from 1954 - 2007, to learn more about the brand's past. From the DB4 all the way to the Vanquish, the beauty of these hand-built machines has stayed consistent throughout their history. After admiring the classics, it was time to push the shiny new Vanquish to its limits on the track. Fighting through intermittent rain didn't make it easy. "Getting a little squirrelly for sure," said a visibly excited Patrick. "Too much. Way too much on that one." When it was Jessi's turn, her self-proclaimed lead foot actually led her to an interesting conclusion about the vehicle. Because of the subpar track conditions and because the car is in fact a grand tourer, Jessi actually makes that claim that "I think I'd rather have it out on the open road." Regardless of environment or driving conditions, it's certain that the Vanquish is an incredibly impressive machine. Perhaps most importantly, it helped us check "Drive An Aston Martin" off of our List. Click here to find more episodes of The List Click here to learn more about our hosts, Jessi and Patrick Aston Martin Luxury Performance Supercars The List Videos Original Video aston martin vanquish

Aston Martin considers building DBX in Macedonia

To build the new DBX crossover, Aston Martin is preparing to expand production outside of its home in Warwickshire. It just hasn't decided where the new plant will be. But while it has narrowed its search to just a few locations, one site that was previously discounted is now reportedly back in the running: Macedonia. The former Yugoslavian republic to the north of Greece has been soliciting car companies for manufacturing projects for years. And though it doesn't currently have any final assembly plants, it does have numerous component suppliers located within its borders. According to Automotive News, the Balkan country boasts relatively low wages and an educated workforce – a hard mix to come by. Perhaps best known as the birthplace of Alexander the Great, Macedonia was initially short-listed among 18 other locations as a potential site for the new Aston plant. The British automaker initially ruled it out as it whittled its list down, but Reuters reports that the country has since come back with a more attractive proposal with greater incentives from the government, putting it back in the running. Other locations under consideration include two locations in the UK, one in the Middle East, and one here in America. The Alabama site would be conveniently located near the plant in Tuscaloosa where Mercedes builds many of its crossovers, which could be a huge advantage – especially if the DBX borrows some of its underpinnings from Daimler. The last Aston Martin built off-site was the Rapide, which was previously manufactured by Magna Steyr in Austria until 2012 when Aston moved production in-house to Gaydon. The Cygnet was also manufactured by Toyota in Japan alongside the Scion iQ on which it was closely based, but the finishing touches were put on by Aston in Gaydon until the model was discontinued. Other European automakers also operate plants in the region. The Volkswagen Group and Peugeot SA manufacture in Slovakia. Renault and Smart build their city cars in Slovenia. Mercedes and Audi run assembly plants in Hungary. And Fiat builds in Serbia and in nearby northeastern Turkey, where Hyundai, Honda, Toyota, and Renault also have plants. News Source: ReutersImage Credit: Aston Martin Plants/Manufacturing Aston Martin Crossover Luxury Performance aston martin dbx macedonia