Saturday, September 25, 2021
News Mercedes Picking Up Stake in Aston Martin in Exchange for High Tech

Mercedes Picking Up Stake in Aston Martin in Exchange for High Tech

Mercedes-Benz shares its new tech for shares in Aston

  • Mercedes-Benz could up stake to 20 percent of Aston

  • In exchange Aston gets new tech including electrified drivetrains


Things are looking up again at Aston Martin despite the pandemic, as the automaker is about to get a big dose of investment and partnership help from Mercedes-Benz.

Mercedes made the announcement earlier today that it would be expanding and enhancing its technology partnership with Aston, and that will give Aston access to new tech and hardware from the larger automaker including electronics, powertrains, and electrification. It’s not coming for free, of course, as part of the deal Mercedes will raise its stake in Aston Martin up to a maximum of 20 percent, up from a current 2.6 percent.

Benz says that the three-year ownership increase has a total value of £286 million, (CAD 440m), and it will be through new shares issued by Aston. Mercedes said it has no plans to increase its stake past that level.

Wolf-Dieter Kurz, head of product strategy at Mercedes-Benz, said that this will give Aston Martin “access to new cutting-edge technologies and components, including next generation hybrid and electric drive systems.”

Aston went public just two years ago and has since struggled with sales of its core lineup of sports cars as well as having the massive expense of bringing the DBX crossover to market. The company was said to be near closure at the start of the year when a consortium lead by Canadian billionaire Lawrence Stroll invested $316 million into the automaker to acquire a 16.7 percent stake. As part of that deal, former Mercedes-AMG CEO Tobias Moers took over the top job at the British automaker.

Mercedes-Benz and Aston Martin first began working together back in 2013, when it was arranged to start using AMG engines in the British vehicles, though a Mercedes shift toward smaller engines was said to put some strain on the relationship. This latest agreement would seem to end any speculation as to how the two automakers are currently getting along.

Trending Now

BMW and Daimler sued for not doing enough to curb climate change

Environmental protection groups are suing BMW and Daimler in Germany The case demands the companies to stop production of internal combustion engines by...

The Ford Mustang Mach-E is the First EV to Pass Michigan State Police Tests

Ford entered an all-electric Mach-E SUV in the Michigan State Police 2022 model year evaluation The Michigan Police found the Mach-E to be...

Jeep Grand Cherokee Debut Set For September 29th

Two-row Grand Cherokee nine months later than L model Event happens early in the morning on the 29th It's been nine months since Jeep...

Is a Rivian minivan in the plans?

New patent hints at potential Rivian minivan Rivian recently filed a patent on a new double-guide sliding door that could eventually end up in...

2022 Honda Passport is Redesigned and Gets a new Rugged TrailSport Version

TrailSport is a new trim meant to highlight Honda’s light-truck lineup. The 2022 Honda Passport gets updated front and rear fascias. The more rugged...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.