Mercedes-Benz will become the largest shareholder in Aston Martin based on a market update made available to the public. This greatly expands the German automaker’s role at the British supercar maker after initially getting a 2.6 percent stake.
Mercedes-Benz says they will take no more than a 20 percent stake in the company. In exchange, Aston Martin will gain access to Mercedes-Benz’s next-generation hybrid and electric drive systems including platforms all the way through to 2027. Currently, Mercedes-Benz provides the turbocharged V8 engines used by Aston Martin.
The move is seen as a boost to Aston Martin after struggling less than two years since going public amidst high inventory and poor sales of its supercars. Canadian billionaire Lawrence Stroll bailed out the automaker early this year, and Tobias Moers, the former head of Daimler's Mercedes-AMG performance division, replaced Andy Palmer as Aston Martin’s CEO.
Source: Car Guides PH
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