British marque Aston Martin announced that it there will be a committed funding of £200 million for product expansion activities. With that, the management has also confirmed that the DBX, Aston’s first crossover will be brought into production.
According to the official press release, the hefty sum of investment is set to develop “significant new luxury models” as part of its strategic business plan. Aston has received half of the investment to begin work, while the remaining £100 million will be issued in the next twelve months.
Aston Martin Lagonda CEO Dr Andy Palmer commented: “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. The additional investment announced today will allow us to realise the DBX and other new luxury vehicles that will form the strongest and most diverse portfolio in our history”.
The DBX Concept was first shown to the world at the 2015 Geneva International Motor Show. It is said to have no engine compartment as it uses electric motors mounted inboard of the wheels and powered by lithium sulphur cells. In additional it is fitted with drive-by-wire electric steering, toughened glass with an auto-dimming ‘smart glass’ inter-layer, bespoke driver and passenger head-up displays, active LED exterior lights, and carbon ceramic brakes with a kinetic energy recovery system (KERS).
Dr Palmer said, “A concept car such as this should, in my view, challenge conventional thinking and explore the art of the possible. In the DBX Concept, I believe we have created a new type of luxury car that can not only broaden the appeal of Aston Martin to a whole new generation of customers, but sit with pride alongside the rest of our range.”