Daimler’s Mercedes-Benz division is increasing its stake in Aston Martin Lagonda from 5% to 20% in what the carmakers are calling a ‘strategic technology agreement’.
Mercedes-Benz bought the initial 5% stake in 2013 and will increase its share in several stages, making it one of Aston Martin’s largest shareholders. In a first stage Mercedes-Benz will increase its stake to 11.8%.
Aston Martin’s executive chairman, Lawrence Stroll, said the deal will give Aston access to world-class technologies to support long-term product expansion plans, including electric and hybrid powertrains.
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