It’s Benz, James Benz: Mercedes-Benz ups stakes in Aston Martin

Mercedes-Benz maker Daimler announced on Tuesday 27 October 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.

Stepping up technical cooperation

Mercedes-Benz could see its stake in Aston Martin rise from 2.6% currently up to 20%, which corresponds to £286 million (about R6.1 billion).

“Mercedes-Benz AG has no intention to increase its holding in Aston Martin beyond this level,” the automaker said in a statement.

#MercedesBenz AG and Aston Martin Lagonda Global Holdings plc (@astonmartin) have announced a new strategic technology agreement and an enhanced partnership. Find all further information here: https://t.co/6x8uQhxO1Q pic.twitter.com/MLUAfPADwn

— Mercedes-Benz Press (@MB_Press) October 27, 2020

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 CEO.

An exciting new chapter.

We're delighted to welcome Tobias Moers to Aston Martin for his first week as CEO.

Bringing with him a wealth of automotive expertise and passion – welcome Tobias!#AstonMartin pic.twitter.com/W45R7iCM1a

— Aston Martin (@astonmartin) August 3, 2020

— By © Agence France-Presse

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