Aston Martin to replace lineup, add three new models by 2020

CEO Andy Palmer has outlined the British marque\'s \"Second Century\" comprehensive growth strategy, which will require the biggest investments in its 102-year history.

Aston Martin has outlined a comprehensive growth strategy, known as its "Second Century" plan, that aims to revitalize the brand.

Detailed by chief executive Andy Palmer this week in Shanghai, the vision focuses on introducing a new wave of products. The company promises to replace every model in the current lineup by 2020, while adding three entirely new models within the same time frame.

Revamping the entire family is said to require the biggest investment plan in the British automaker's 102-year history.

"The Second Century plan not only delivers exciting and highly desirable new luxury sports cars in the traditional sense, but also embraces new powertrain technology," Palmer said. "I have challenged not only convention but also my team to investigate an electric version of the Rapide, a product which will undoubtedly be attractive for the China market."

The company's choice of Shanghai to make the announcement is likely no coincidence, as all major automakers are currently battling for market share as the world's largest automotive market continues to grow at a fast pace.

Palmer's comments reaffirm plans to expand availability of the resurrected Lagonda sedan, which was initially presented as a Middle East exclusive. The company is reportedly working on another Lagonda variant that will make its way to global markets, with higher sales ambitions than the ultra-exclusive 200-unit Taraf edition.

"The China auto show debuts of the DBX Concept and Lagonda Taraf at Auto Shanghai 2015 are a clear signal that China is an increasingly significant market for Aston Martin," said Aston Martin China president Michael Peng. "In the second century, we will continue to place a high importance on China and its growing number of discerning luxury sports car enthusiasts."

The company has established dealer partners in 15 key cities throughout mainland China, where buyers can order the new eight-speed Vanquish and Rapide S models and the Lagonda Taraf.

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