Aston Martin Confirms Production Version Of DBX Concept, Issues £200 Million To Fund Development
Aston Martin Lagonda confirmed that the DBX Concept will enter production!
The company issued £200 million (over $300 million) in funding to handle product expansion for this and maybe other models with electric powetrains.
Will the production DBX be all-electric (like the concept) or maybe a plug-in hybrid? We don’t know.
“This major investment in new luxury models is at the core of Aston Martin’s strategic vision. Under the plan, the company will expand into the luxury GT crossover market with the introduction of a new vehicle based on the DBX concept shown at the recent Geneva and Shanghai motor shows. With the addition of new model lines, the company’s strategy will help drive future growth, always ensuring that Aston Martin builds the world’s most beautiful cars that deliver true sporting ability with passion and refined luxury.”
We believe that this is the first fruit of new Aston Martin CEO Andy Palmer’s labor, which sets a new direction for the 102-year old luxury sports car manufacturer.
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”.
“Our shareholders have shown their strong commitment and confidence in the management team to execute the strategic plan.”