Mercedes To Take Major Stake In Aston Martin In Supply Of EV Technologies
GaadiWaadi - Mercedes-Benz AG and Aston Martin have come on terms with a mutually beneficial agreement as technologies, vehicle components and powertrains will be shared Mercedes-Benz AG and Aston Martin Lagonda have revealed in a statement about a new strategic agreement as part of enhancing their partnership. The German conglomerate has grant access to a range of advanced Mercedes-Benz technologies and they include next generation hybrid and electric powertrains along with vehicle components and systems. The partnership carries mutual benefits as access to the technologies comes in exchange for shares in the performance carmaker, Aston Martin. It is issued in many stages over the next 36 months, valued up to GBP 286 million (Rs. 2,757 crore approximately). Mercedes-Benz AG’s shareholding stands at 2.6 per cent of Aston Martin’s common equity at present. The new shares will take Mercedes-Benz AG’s holding up to a maximum of no more than 20 per cent and the company has insisted t...