Aston Martin has confirmed it will build a production version of the DBX concept, as the company celebrates receiving an extra £200 million worth of investment.
In a statement, the firm says it will “develop significant new luxury models that will drive the future of the company under its strategic business plan.
“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.”
The extra £200 million in funding will be supplied in the form of preference shares, half of which have already been released. The other half will be released in the next 12 months.
Aston Martin boss Andy Palmer said: “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 Aston Martin DBX Concept, a surprise unveiling back at the Geneva motor show in March, pointed towards the British manufacturer’s plan to expand its model range to appeal to new types of customer.
Aston Martin said the DBX Concept, which represents a radical diversion for the brand, was “created to defy conventional thinking about the luxury GT segment [and] reach out to a more diverse global audience than ever before”.
The DBX Concept was designed by Aston Martin’s chief creative officer Marek Reichman and his team at the brand’s global headquarters in Gaydon, Warwickshire.
It represents a major evolution of the company’s design language. The four-seater is said by Aston Martin to “major on day-to-day practicality. It offers generous luggage capacity by virtue of the fact that its rear trunk and forward load bay can both accept passengers’ belongings”.
The concept’s exterior bright work is made of machined billet aluminium and the ‘black pearl chromium’ pain has been designed to offer a level of reflectivity that cannot be obtained through normal paint finishes.
The interior features exposed nubuck leather, which “contrasts with the concept’s hard, high-tech equipment”.
The DBX Concept uses electric motors mounted inboard of the wheels and powered by lithium sulphur cells. The electric steering is a drive-by-wire arrangement. The toughened glass is auto-dimming, and the driver and front passenger have bespoke head-up displays.
Active LED exterior lights, carbon ceramic brakes with a kinetic energy recovery system (KERS) and rearview cameras in place of conventional mirrors also underline the mould-breaking nature of this luxury GT concept.
“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,” said Palmer.
Aston has also revealed its financial results for 2014, where it made revenues of £468 million and earnings of £66 million.
The company said the addition of new models lines would “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.”