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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.

Check out Aston Martin's zero-emissions AMR-SB race car

In the above video, Aston Martin reveals its AMR-SB race car. According to the chassis designer, it came at a time that was fairly busy, especially following the company's Le Mans class victory. But they saw it through, and the result is an amazingly light, zero-emissions race car. Aston was able to do this by powering it with the constantly present resource of gravity. Yes, it's a soapbox derby car. We appreciate car companies that have a sense of humor, and that's clearly what Aston demonstrates with this professional intro video for its soapbox racer. The company built it for the Red Bull Soapbox race in England, and it looks just like one of Aston Martin's Vantage GTE Le Mans racers, down to the wing on the back. That wing didn't seem to be attached quite as well as those on the real cars, since it disappears after one of the jumps. The car gets going more quickly than you might expect, too, as the video shows it hitting over 30 mph at a certain point. Check out the fun in the video above. You can also see the whole ride down from the driver's view in the video below. Related Video:

2021 Aston Martin DBX First Drive Review | A crossover that makes you forget it’s a crossover

Many times we test high-powered crossovers but view them through the same lens as their performance-oriented siblings. Is this a Mustang? Is this a Porsche? Is it worthy? The list of crossovers subjected to navel-gazing and hand-wringing is long. Rather than fretting over the badge or the shape, it’s helpful to simply judge these vehicles on their merits. After all, the 2021 Aston Martin DBX was created because crossovers are essential, not because Aston ran out of sports-car ideas. The DBX is the first and assuredly not the last crossover in Aston MartinÂ’s 108-year history thatÂ’s filled with glittering sports cars and financial unease. The latter is the reason the DBX exists, so as to allow for the former to continue to endure. Put another way: ItÂ’s 2021. Ya gotta have a crossover, and it needs to be able to do stuff. The last time I reviewed an Aston, the DB11, I piloted it through the sun-drenched Tuscan countryside at high speeds. Five years later I find myself measuring another Aston under vastly different circumstances on vastly different merits. ThatÂ’s actually perfect.  The DBX is a crossover that can run, but my first order of business is strapping my sonÂ’s rear-facing car seat in the back. It fits pretty well, and even with him right behind the driverÂ’s seat, I still had a decent amount of room. Despite the dramatic roofline, I was able to get him in and out of the DBX with reasonable comfort. A minivan with sliding doors and a low ride height is easier, but the Aston is about as fit for toddler duty as any coupe-styled crossover can be. My sonÂ’s reaction? He loved the blue leather with its white stitching and noted the car “yelled.” ThatÂ’s what an AMG-built turbo V8 sounds like, son. The DBXÂ’s cabin is worth our test car's nearly $211,000 sticker. ItÂ’s interesting and stylish, rather than decadent. The all-Aurora blue leather looks and feels expensive. The sea of blue is broken up by a camel-colored Alcantara headliner, the ivory seatbelts and a light olive aspen overlay that accents the center console. The contrasting white stitching is subtle but intricate on the seats and door panels, and the seatbacks and large steering wheel proudly display the Aston badge. ThereÂ’s no shifter, but the paddles are large and easy to use, returning a satisfying clack.