Aston Martin would get hybrid and electric technology from Mercedes, while the German manufacturer increases its stake in the British brand.
Struggling British carmaker Aston Martin announced the continuation of its partnership with Mercedes, allowing it to gain access to more German-made power units.
Aston Martin and Mercedes have been collaborating for nearly a decade now. The German manufacturer even owns a 2.3% stake in the British marque. According to the new agreement, Mercedes will gradually increase its stake to 20%, highest only after executive chairman Lawrence Stroll.
Stroll’s F1 team, also widely collaborating with the Mercedes team, so much in fact that it will change its name to Aston Martin F1 from 2021.
In return, Aston Martin is eyeing Mercedes’ hybrid and electric powertrains for its model range, expected to arrive as soon as 2023.
Aston Martin currently sells around 6,000 cars per year and aims to reach a 10,000 figure by 2025. Furthermore, the brand plans to generate around $2 billion in revenue and profits of up to $500 million by 2025. For comparison purposes, Aston Martin suffered a $29 million loss for Q3 2020.
“The capabilities of Mercedes-Benz AG technology will be fundamental to ensure our future products remain competitive and will allow us to invest efficiently in the areas that truly differentiate our products,” said Aston Martin CEO Tobias Moers.
Similar to the 2013 deal, the new agreement doesn’t detail what Aston will get from Mercedes. Stroll’s statement mentions Aston getting “world-class technologies,” including “electric and hybrid powertrains.”
Meanwhile, it should enable Aston to tweak Mercedes engines more to its style and develop a unique version better suited to the British brand.
We can only hope that the iconic Aston Martin restores to its former glory and continue building legendary sports cars.