Lagonda has announced that their investors, Investindustrial and Tejara Capital
have further invested £200 million (approx. Rs. 1950 cr.) to fund product
expansion for the Gaydon based manufacturer.
claims that the investment enables the production of the DBX luxury crossover
which was unveiled at 85th Geneva Motor Show this year and more. Aston Martin
had announced at Geneva that the DBX will be the first ever GT crossover in the
world and the first ever Aston to be completely electric and feature all wheel
million comes in the form of preference shares; £100 million of which were
issued on 29 April 2015 with the remaining £100 million – already subscribed
for – to be issued in the next twelve months, and will further expand the
previously announced investment plan.
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.”
shareholders have shown their strong commitment and confidence in the
management team to execute the strategic plan,” continued Palmer
In 2014 the company
delivered full year revenues of £468 million (approx Rs.4563 cr.) and adjusted
EBITDA of £66 million (approx. Rs.643 cr.) whilst simultaneously increasing its
product development spend by 45%. Aston Martin has stated that they expect a
global demand for its luxury sports cars in 2015 to remain high, whilst it
continues to develop and expand its current range starting with first customer
deliveries of the limited edition track-only Aston Martin Vulcan and the race
inspired, Vantage GT12.
Tyre major Ceat has partnered with MG Motors India for the launch of the MG Comet, the newest electric vehicle (EV) in India. As part of this partnership, Ceat will provide tyres for the MG Comet with...
Hyundai Motor India Limited has showcased exciting new 1st in segment features of Hyundai Exter. Customers can soak in the sights with smart electric sunroof while also capturing and chronicling memor...
Within the main technologies introduced at Auto Shanghai 2023– booth located in Hall 1.2H, Stand 1BF015– Marelli is presenting for the first time its “In-Cabin Advanced Technology Showcase”. This is a...