The British luxury car manufacturer said during the press days of the Geneva International Motor Show that it would move to build its first SUV-styled crossover.
As the United Kingdom’s last automaker that is not owned by a major global automaker, Aston Martin did announce plans to increase its capital to properly fund the company’s expansion into new vehicle segments. That would imply a level of deeper cooperation with Germany’s Daimler. According to CEO Andy Palmer the British brand has already obtained additional funds of around 150 million pounds ($230 million) – backed by the company’s main stakeholders, private equity groups Investindustrial and Investment Dar of Kuwait. Palmer already hinted that the upcoming SUV model could be based on a four-wheel-drive platform sourced from Daimler – the German constructor already delivering to the British supercar brand electronics and V8 engines made by the AMG performance unit after a 2013 accord.
The executive said the recent cash program comes atop to 500 million pounds already scheduled for investment into the brand’s core lineup revamp, with the money being a “consistently sustainable” sum that would support the development of new models. “We have to expand our customer base, we have to address the issue of our (CO2) emissions and we have to appeal to a generation who have grown up with SUVs, particularly in places like China,” commented the executive. The brand is leaving behind its sports car heritage and taps new segments – reviving the Lagonda saloon badge or entering the bustling SUV market.
Via Automotive News Europe