Aston Martin has another ‘White Knight’ as Mercedes makes its latest technology available to AML in exchange for a 20 per cent stake.
Aston Martin has a long history of ‘White Knights’ riding to its rescue as it uber-cool brand has failed to turn brand perception in to a profitable business, and the arrival of Canadian billionaire Lawrence stroll to AML earlier this year is just the latest in a long line. But now there’s another.
Having already seen AMG’s Tobias Moers arrive this year to replace ousted CEO Andy Palmer, the ‘Mercedesification’ of Aston Martin grows deeper with Mercedes in line to take a stake of up to 20 per cent in AML.
Mercedes already has a five per cent stake in AML, but that is set to rise to 20 per cent in the coming years as Mercedes gives Aston free reign to use Mercedes’ engines and hybrid tech as well as full electric vehicle tech.
Which means AML, which has no cash to speak of, can concentrate on building cool Aston Martins underpinned by the best Mercedes can make, including hybrid and electric.
Tobias Moers said:
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.
The plan is crucial to the stated aim of hitting 10,000 cars a year and make a profit of £500 million a year, however it does look like AML may have to actually fork out for the Mercedes tech if they fail to increase share value.
Then the hunt will start for another ‘White Knight’.