Mercedes-Benz will increase its stake in Aston Martin from 2.6 percent to 20 percent as part of an expanded technology partnership. Mercedes said in a statement on Tuesday that Aston Martin will get access to cutting-edge Mercedes technology, including next-generation hybrid and electric powertrains, in exchange for a 20 percent stake in Mercedes.
Mercedes had a successful technology partnership with Aston Martin, from which both companies benefited.
“We already have a successful technology partnership in place with Aston Martin that has benefited both companies. With this new expanded partnership we will be able to provide Aston Martin with access to new cutting-edge technologies and components, including next generation hybrid and electric drive systems. The supply arrangements for these new technologies will be on agreed commercial terms. We look forward to continuing to work together with Aston Martin and we wish the company every success in its next stage of growth.” Wolf-Dieter Kurz, said in the statement.
- Mercedes-Benz AG and Aston Martin Lagonda to expand and enhance their existing technology partnership.
- Strategic Cooperation Agreement signed that will provide Aston Martin with access to new Mercedes-Benz technologies and components.
- Access to these new technologies and components will be provided in exchange for new shares in Aston Martin; the supply of these new technologies and components will be on agreed commercial terms.
- New shares will be issued in several stages over the next 3 years, taking Mercedes-Benz AG’s shareholding in Aston Martin up to a maximum of no more than 20.0%