As one of the stars of this year’s Geneva Motor Show, there have been many rumors surrounding the 2015 Aston Martin DBX Concept, but the British automaker confirmed that it would, in fact, be building a production crossover based on the concept vehicle. The announcement was made as part of a press release stating that Aston Martin is planning to raise around $306 million by issuing shares.

Aston Martin did not release any additional details about its impending “luxury GT crossover” including how much/if any of this new cash will be used to open or build a separate assembly line. It sounds like Aston Martin is looking into either building a facility in the Southern U.S. or acquiring an existing plant in England.

In addition to the crossover, the money will also be used to add “extra model lines… by the end of the decade.” This matches up with a recent report that indicates Aston Martin intends a complete lineup overhaul within the next five years, including a DB9 successor that was recently spotted testing at the Nurburgring.

Continue reading to learn more about the future Aston Martin DBX.

Why it matters

Up until now, a production version of the DBX Concept has been just speculation, but this official announcement confirms that Aston Martin will definitely be getting a crossover.

2015 Aston Martin DBX

2015 Aston Martin DBX Concept High Resolution Exterior
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Press Release

Aston Martin Lagonda today announced that with the leadership of its major shareholders, it has arranged additional committed funding of £200 million, enabling the 102-year old luxury sports car manufacturer to develop significant new luxury models that will drive the future of the company under its strategic business plan.

The additional capital investment comes in the form of £200 million 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.

This major investment in new luxury models is at the core of Aston Martin’s strategic vision. 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 shown at the recent Geneva and Shanghai motor shows. With the addition of new model lines, the company’s strategy will 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.

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.

Separately, Aston Martin Holdings (UK) Limited today announces results for the 12 months ended 31 December 2014. In 2014 the company delivered full year revenues of £468 million and adjusted EBITDA of £66 million whilst simultaneously increasing its product development spend by 45%. In 2015, the company expects global demand for its luxury sports cars 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.

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