Mercedes to increase its stake in Aston Martin11/02/2020
In return, Aston Martin will gain access to Mercedes’ electric car technology.
Mercedes-Benz will increase its stake in Aston Martin in stages to 20%. In the first stage, Mercedes will purchase shares worth GBP 140 million, increasing its stake to 11.8%.
Back in 2013, Mercedes-Benz had purchased a 5% stake in Aston Martin. The deal saw both companies co-develop new engines. As part of a new agreement, the cash strapped British sports car maker will gain access to Mercedes’ electric car technology.
Aston Martin plans to sell around 10,000 cars by 2025. That’s almost double the number of cars it sold in 2019. It also aims to increase its revenues to GBP 2 billion and attain earnings of about GBP 500 million in the next 5 years.
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