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Mercedes to take 20% stake in Aston Martin

by LLB Editor October 28, 2020

written by LLB Editor 28^th 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.”