Home Business NewsBusinessAutomotive News Mercedes to take 20% stake in Aston Martin

Mercedes to take 20% stake in Aston Martin

by LLB Editor
28th Oct 20 11:11 am

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.”

Leave a Comment

You may also like


Sign up to our daily news alerts

[ms-form id=1]