Aston Martin Lagonda gets £200 million more funds

Aston Martin 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.

Aston Martin 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 drive.

The £200 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.

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,” 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.