Aston Martin and Mercedes-Benz sign technology partnership

In exchange, Mercedes will grant access to a range of advanced technologies including next generation hybrid and electric powertrains, as well as other vehicle components and systems.

With new investment, Aston Martin expects to sell 10,000 vehicles in 2024, £2 billion revenue and £500 million earnings. Up to 30% is slated to be hybrid thanks to the input from Mercedes.

Wolf-Dieter Kurz, Head of Product Strategy at Mercedes-Benz Cars, commented: “We already have a successful technology partnership in place with Aston Martin that has benefited both companies. With this new expanded partnership we will be able to provide Aston Martin with access to new cutting-edge technologies and components, including next generation hybrid and electric drive systems. The supply arrangements for these new technologies will be on agreed commercial terms. We look forward to continuing to work together with Aston Martin and we wish the company every success in its next stage of growth.”

Lawrence Stroll, Executive Chairman of Aston Martin Lagonda commented:

“This is a transformational moment for Aston Martin. It is the result of six months of enormous effort to position the Company for success to capture the huge and exciting opportunity ahead of us.

“Today, we take another major step forward as our long-term partnership with Mercedes-Benz AG moves to another level with them becoming one of the Company’s largest shareholders. Through this new expanded agreement, we secure access to world-class technologies to support our long-term product expansion plans, including electric and hybrid powertrains and this partnership underpins our confidence in the future.”

Aston Martin www.astonmartin.com