Currently reading: Aston Martin plans new model blitz
A rush of fresh funding into the UK supercar maker means development on the company's Lagonda SUV is able to move forward
News
1 min read
25 March 2014

Aston Martin looks to be set for a new-model blitz following reports that it has raised $165 million - approximately £100 million - in fresh funding.

According to the Financial Times, Aston’s chief financial officer, Hanno Kirner, said the cash would “provide a solid foundation for the execution of our future product plan”. 

The loan - and the interest on it - is due to be repaid or refinanced in 2018, which suggests that the first new Aston model will be on the road in around three years’ time.

The proposed Aston Martin Lagonda SUV would be the most likely all-new model due to the continuing boom in the global luxury SUV segment. The Lagonda has recently been bought back to the front of Aston Martin's model plans thanks to its parts sharing deal with Mercedes-Benz.

While Daimler boss Dieter Zetsche has said he would be open to expanding the partnership, possibly to include platform sharing, rumours are abound that the company will instead buy Aston Martin completely. The firm already owns five per cent of the UK supercar maker.

If an extended agreement between the two companies is finalised, the Lagonda SUV is likely to be based on the Mercedes GL.

Additional reporting by Darren Moss.

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Driving 25 March 2014

suvvy business acumen

Bentley, Rolls-Royce, Maserati? all want to jump on SUV. oh and jaguar as well, tough for such a brand like aston martin lagonda. it can do it but it needs to be very good to compete with those, maybe even needing some sort of break though after its recent reputation with Chinese parts and repetitive designs
Citytiger 25 March 2014

Some companies spend more on

Some companies spend more on marketing than that, its not exactly a fortune...
TBC 25 March 2014

Business

Following the success of Porsche etc, an SUV would be the most logical step for AML, especially as they will need to make a sizable profit to pay back the loan.
superstevie 25 March 2014

TBC wrote:Following the

TBC wrote:

Following the success of Porsche etc, an SUV would be the most logical step for AML, especially as they will need to make a sizable profit to pay back the loan.

My thoughts exactly. If it helps them bamkroll sports cars, then I'm all for it. Hopefully they will style it better than the concept a few years ago.

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