Mercedes-Benz, which currently holds a 5% stake in Aston Martin via Daimler, will increase it in multiple stages to a maximum of 20%. In exchange, Aston Martin will gain access to Mercedes’ next-generation hybrid and electric drive systems in addition to the conventional powertrain technologies.
Mercedes-Benz will be granted the right to nominate one non-executive director to Aston Martin Board after its first shareholding increase.
We already have a successful technology partnership in place with Aston Martin that has benefited both companies. With this newly expanded partnership, we will be able to provide Aston Martin with access to new cutting-edge powertrain and software technologies and components, including next-generation hybrid and electric drive systems. Access to this technology and these components will be provided in exchange for new shares in Aston Martin. These new shares will be issued to us in several stages, taking our shareholding up to a maximum of no more than 20.0% of the common equity. The supply arrangements for these new technologies will be on 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, Head of Product Strategy at Mercedes-Benz Cars
In 2018, Aston Martin resurrected the Lagonda as a luxury EV brand with the Vision Concept. At last year’s Geneva Motor Show, it revealed an All-Terrain Concept that features a levitating key. In April 2019, the production version of the all-electric Rapide E was revealed.