Aston Martin Lagonda to invest £200m in new product development

Aston Martin Lagonda has announced £200 million of new investment for product expansion and the development of new models.The funding will allow the manufacturer to expand its current range of luxury cars, enabling the production of the all-new DBX crossover based on the concept shown at this year’s Geneva and Shanghai motor shows. This announcement is in addition to the company’s previously announced investment plan, and follows a 45% increase in product development spending in 2014.Aston Martin Lagonda chief executive, Dr 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 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.”2015 has already been a record year of investment for automotive manufacturing, with an unprecedented £1 billion invested in just one week earlier this year. Keep track of the industry’s investment highlights here.Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)

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