Daimler’s subsidiary Mercedes-Benz plans to expand its stake in Aston Martin significantly in the coming years. The interest is increased in a number of steps from 5% to 20%.
Mercedes’ step is in line with the recovery plan that Lance Stroll, the majority shareholder at Aston Martin since the beginning of this year, has outlined.
The deal will give Aston Martin, the favorite car brand of film hero James Bond, access to Mercedes’ technology for building electric cars.
Aston Martin has long suffered from financial problems The British car company itself was on the verge of collapse, but was saved from the abyss by billionaire Stroll.
Stroll has made its fortune in the apparel industry. He brought the fashion brands Pierre Cardin and Ralph Lauren to Canada. Later he invested with his Chinese business partner Silas Chou in the clothing maker Tommy Hilfiger and the jewelery brand Asprey & Garrard.
News of the deal with Mercedes received an enthusiastic reception at the London fair. The price of the British car brand shot up almost 5%.
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