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.
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.
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.
Djokovic beats Krajinovic in Vienna opener
He was certainly tested by his compatriot in the first game, through nearly nine minutes and two break points, but held. The US Open champion Dominic Thiem , a beneficiary of Djokovic's disqualification in NY , also progressed on home soil.
The company holds over 500 patents in areas such as AAV production, chimeric vectors and self-complementary DNA. Credit Suisse (SIX:) was financial advisor while Baker McKenzie was legal counsel to Bayer .
Justin Trudeau signaled his government won't immediately set a new fiscal anchor as it rolls out more COVID-19 spending. Twenty-eight new deaths reported in Quebec, Ontario, Manitoba and Alberta pushed the death toll to 1,001 on Tuesday.
Earlier this year, HD joined forces with Chinese motorcycle maker, Zhejiang Qianjiang, which is the mother company to Benelli . Meanwhile, shares of Hero MotoCorp ended the intraday trade today at Rs 2,914.95, up 17 points, or 0.59 per cent on NSE.
Standing detached from the main reef, the massive structure is the first new reef to be discovered in the area in over 120 years. Data from the expedition will be publicly available through AusSeabed, a national Australian seabed-mapping program.
He thanked the club and head coach Mike McCarthy after learning of the trade, and showed excitement for his new team. Griffen's debut with the Lions is expected to be November 8 against the Minnesota Vikings.
The opposition vowed to retaliate for the attack on Faylaq al-Sham, blaming Russian Federation for the daytime airstrike. Observatory head Rami Abdel Rahman described Monday's strikes as the "deadliest since the ceasefire came into force".
The number of people who've had Covid-19 without knowing it is likely to be many multiples of the known and confirmed cases. But I'm thinking that 70-something percent is about where we need to be, and it's because I've looked at some of the data.
Coleman claimed the tester made no attempt to reach him, and he was unaware the tester had come to his house until the next day. It withdrew the case after it was proved there had been a filing irregularity regarding the date of the first missed test.
Nasa's SOFIA finds water on sunlit surface of Moon
If water is locked into glass beads, it could require more energy to extract than if it were simply mixed in with the soil. He said, "We had indications that H2-the familiar water we know- might be present on the sunlit side of the Moon".
Céline Dion jouera au cinéma
En 1990, Céline Dion avait fait ses débuts de comédienne en tenant le rôle principal dans la minisérie Des fleurs sur la neige . Les deux se rencontrent et ressentent une connexion indéniable, mais semblent incapables d'oublier leur passé.
President Trump's campaign website hacked
Despite the hackers' claims, there was not immediately any indication that classified or personal information got exposed. In their message, the hackers claimed to have confidential information on Trump and his relatives.