Mercedes-Benz has raised its stake in Aston Martin Lagonda, the luxury carmaker that has taken a huge hit due to the pandemic.
Aston Martin said Mercedes will increase its holding “in stages” from 5% to 20%.
The deal has been pegged a “strategic technology agreement.”
Wolf-Dieter Kurz, head of product strategy at Mercedes-Benz Cars said, “With this new 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.”
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