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Mercedes seals deal to take up to 20% stake in Aston Martin

28 Octobre, 2020, 13:42 | Auteur: Adelaide Bullion
  • Mercedes-Benz taking bigger stake in Aston Martin in exchange for sharing more tech

Mercedes now holds a 2.6% stake in Aston Martin, but that will increase to "no more than 20.0%" under the deal. In fact, Aston Martin already uses both AMG's 4.0-liter V-8 engine and Daimler's electrical architecture.

The deal, which will see the German automotive giant gradually increase its holding, is aimed at rapidly growing Aston Martin's trade to sell around 10,000 vehicles by 2025. More recently, former AMG boss Tobias Moers was even installed as Aston Martin's new CEO. This would make them the largest shareholder next to Aston Martin's executive chairman Lawrence Stroll, who bailed out the company in January.

In exchange, Mercedes will be granted new shares in Aston Martin in several stages over the next three years.

Aston Martin has struggled in the two years since it went public with bloated inventory and poor sales of its core sports cars.

The new shares will not be issued to Mercedes instantaneously. In exchange for the larger stake, Aston Martin will be given access to advanced Mercedes technology including next-generation hybrid and electric powertrains.

Mercedes-Benz taking bigger stake in Aston Martin in exchange for sharing more tech

Aston, which has started deliveries of its first sport utility vehicle, the DBX, said on Tuesday it swung into an adjusted core loss of 29 million pounds in the third quarter, versus a profit of 43 million pounds previous year.

"We look forward to continuing to work together with Aston Martin and we wish the company every success in its next stage of growth", he added.

"Through this new expanded agreement, we secure access to world-class technologies to support our long-term product expansion plans, including electric and hybrid powertrains and this partnership underpins our confidence in the future".

Further tranches will require discussions between the parties, as they will need to agree upon the scope of the technology to be made available to Aston Martin, the respective value ("entry fees") and the piece prices of components and systems. Better yet, we might see more Mercedes-powered Astons in the future.

Aston Martin also said it aims to grow its revenues to £2 billion and record earnings of around £500 million in five years' time.

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