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Mercedes-Benz maker Daimler announced on Tuesday, October 27, it was stepping up its technical cooperation with Aston Martin that could see the German firm take a stake of up to 20% in the James Bond carmaker.
The deal gives Aston Martin access to Mercedes-Benz’s next-generation hybrid and electric powertrains, as well as other vehicle components and systems.
Mercedes-Benz could see its stake in Aston Martin rise from 2.6% currently up to 20%, which corresponds to 286 million pounds (315 million euros, $374 million).
“Mercedes-Benz AG has no intention to increase its holding in Aston Martin beyond this level,” the automaker said in a statement.
Mercedes-Benz first provided technology for Aston-Martin in 2013, receiving a 5% stake which was reduced when the carmaker listed its shares in 2018.
Earlier this year, Aston Martin recruited Tobias Moers, formerly the head of Mercedes-AMG, the performance division of the German car giant, as its new chief executive officer. – Rappler.com
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