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Aston Martin reportedly picks out a name for DBX SUV: Varekai

It seems a distinct possibility that the name of Aston Martin's upcoming SUV will not remain "DBX," as it has been known. The British Autocar reports that the manufacturer has earmarked the name Varekai for it, which would certainly tie in nicely with the company's earlier V-named products. The word Varekai comes from the Romani language, meaning "Wherever," and for a go-anywhere SUV it would be more than suitable to have a nomad name. However, while Aston has applied to trademark the name, it would not comment on the name's authenticity when asked by Autocar. The SUV, no matter what it will be called, will be manufactured in a new facility in St Athan, Wales. The factory is based on an old air force base, and it will bring up to 750 new jobs to the area when it is brought online. Last month, Aston Martin said the first phase of the facility's construction is now complete, and the SUV will start production in 2019. The powerplants for it will be V8 and V12 engines, as well as a hybrid and an all-electric drivetrain in development. Related Video: News Source: AutocarImage Credit: Aston Martin Rumormill Aston Martin Crossover SUV Electric Future Vehicles Hybrid Luxury Performance

Aston Martin Valkyrie heads to public roads for the first time

The Aston Martin Valkyrie may not be headed for the WEC racing series anymore, but it is finally hitting public roads. Aston Martin shared some images of the start of public road testing and tuning with a production prototype. The car is undisguised because, well, we've seen it a number of times before, but it's still interesting to see it in such mundane settings. Public roads really emphasize how alien the Valkyrie looks. In particular, the shot of it in front of other production cars show that it's about half their height. It also doesn't look especially longer or wider than some of the somewhat small cars in the background such as that Hyundai Kona. And of course the Valkyrie's deep diffuser openings, undulating fenders and little cockpit all look outrageous on the street. We mean that in the best way possible. Aston still plans to begin delivering Valkyries to customers in the second half of this year. It will make at least 1,000 horsepower and rev to over 11,000 rpm. It will be street legal, though not when equipped with the track package or if it's the 1,100-horsepower AMR Pro variant.

Saudi wealth fund to become Aston Martin's second-largest shareholder

Aston Martin's shares jumped 20% on Friday after the British luxury carmaker announced an capital raising that will see Saudi Arabia's Public Investment Fund (PIF) become its second-largest shareholder with an almost 17% stake. PIF's 78 million pound investment, together with a 575 million pound rights issue, will allow the 109-year-old company lower its debt and invest in new models. PIF will own a 16.7% stake in Aston Martin and will be entitled to two board seats, behind the 18.3% holding Chairman Lawrence Stroll's Yew Tree will have after the rights issue. The sovereign wealth fund, which owns stakes in electric carmaker Lucid Motors and British supercar group McLaren has been diversifying its oil-rich investment portfolio. For Aston Martin, the preferred ride of fictional secret agent James Bond which has gone bankrupt seven times in its history, the investment means it can secure its long-term future. Its current second-largest shareholder, German carmaker Mercedes-Benz AG will own about 9.7% after the capital raising. Debt-Ridden Inheritance "In 2020, I inherited a business in deep trouble that needed to be reset," Stroll told reporters. COVID-19 lockdowns and the disruption to global supply chains has slowed the company's recovery, he added. Half of the new capital will be used to repay debt that stood at 957 million pounds at the end of March. The company also pushed back the date at which it will start producing cash from 2023 to 2024. The carmaker said former owner Italian investment group Investindustrial and China's Geely had proposed up to 1.3 billion pounds in funds last week, which the board rejected. The pair would have injected 203 million pounds for a stake, making them the largest shareholder. Stroll said the proposal would have been highly dilutive to shareholders and believed it was a takeover offer in disguise. ($1 = 0.8446 pounds) (Reporting by Eva Mathews in Bengaluru; Editing by Arun Koyyur, Tomasz Janowski and Louise Heavens) Earnings/Financials Aston Martin