Aston Martin has secured the funding to produce the next generation of luxury British sports cars.
The Gaydon-based Aston Martin Holdings Limited confirmed overnight it had secured its £304 million ($456 million) investment target.
Aston Martin CEO, Dr Ulrich Bez, explained the funding would provide financial stability for the next seven years and support the continued development of the brand.
“Our successful bond issue represents a milestone and provides strong, long-term financial foundations for the company as we enter a new phase of growth,” Dr Bez said.
“The success of the bond issue highlights investor recognition of our capabilities and confidence in our strategy.
“We now have long-term financing in place alongside our current product range and development pipeline, which are the strongest in our history. Our growth will be driven both by the continuing recovery in our traditional markets and the opening up of new markets. With our firm financial platform, we look forward to capitalising on the many opportunities ahead of us.”
The next generation of Aston Martin sports cars is expected to enter production by 2016, with development work reportedly set to ramp up next year. The new models will be completely redesigned from the ground-up, with a new platform to replace the ageing VH design.
The highly versatile VH platform has underpinned every Aston Martin vehicle since 2003. It is currently unclear whether Aston Martin’s new platform will be designed from scratch or if it will be an evolution of an existing platform from another manufacturer.
The news follows last night’s confirmation that the Aston Martin V12 Zagato will go on sale in Australia in limited numbers in 2012-2013.