Daimler is open to discuss deeper ties with new Aston Martin CEO

Article by Andrew Christian, on September 12, 2014

Daimler chief executive Dieter Zetsche said his company is fundamentally open to discussion over deeper partnership with Andy Palmer, the new top honcho at Aston Martin. Palmer was formerly Nissan’s chief planning officer, and Daimler has some cooperation agreements with the Renault-Nissan alliance.

Zetsche remarked that while Palmer would be missed in Daimler’s dealings with Renault-Nissan, he would be a plus in its cooperation with Aston Martin. He noted that it is up to Palmer to further develop Aston Martin's strategy, being the British carmaker’s new CEO, adding that Daimler is open to all talks, including over deeper cooperation.

Palmer is latest executive that has exited Nissan and/or its alliance partner Renault. His entry at Aston Martin, however, is very timely as the UK group is getting ready to launch new models with engines supplied by Daimler, which holds a 4-percent stake at the carmaker.

Palmer had tried to persuade Nissan CEO Carlos Ghosn to invest in Aston Martin, but he was not able to do that, sources told Reuters.

Aston Martin is now on a spending spree after its newest controlling shareholder, Andrea Bonomi's Investindustrial, acquired a 37.5-percent in May 2013. Two months later, Aston disclosed an agreement for development of a new generation of V-8 engines with Daimler’s AMG. [source: Reuters.com]

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