Daimler not planning to increase Aston Martin stake or become involved in operational matters

Article by Christian Andrei, on November 14, 2014

Daimler is not planning to increase its 5-percent stake in Aston Martin or participate in operational matters at the British sports car maker, according to Daimler chief executive Dieter Zetsche. He remarked that the huge difference in size between Aston and Daimler is a reason why the German carmaker has no plans to take part in running the UK company.

He remarked that Daimler could not make a better job “in running a 4,000-units-a-year company” than Aston‘s management,” Zetsche said. Aside from being a stakeholder in Aston, Daimler is also supplier the UK carmaker with electric and electronic parts and V8 engines from Mercedes’ AMG performance unit.

There have been reports that the carmakers are holding discussions on using Mercedes technology to develop an SUV that Aston Martin would roll out by 2017. Zetsche remarked Daimler paid nothing for the 5 percent stake in Aston Martin in exchange for technical cooperation.

He said that Aston’s largest shareholder, Investindustrial, believed that the UK sports car maker needed a technical partner to help secure its long-term future. Zetsche said that since they share the same vision, Daimler was willing to become Aston’s technical partner.

Aston Martin is now headed by the chief planning officer of Nissan, Andy Palmer. His job now is to upgrade the carmaker’s lineup as well as almost double its annual sales to 7,500 cars by 2018. [source: automotive news - sub. required]

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Off-road driving with an open air vehicle provides another kind of experience for many off-road enthusiasts and fans. For this sake, Ford is planning to offer a version of the...
by - January 16, 2017
For those who love driving, future autonomous cars should be like the Toyota Concept-i that is drawing in a multitude of visitors at the 2017 Consumer Electronics Show in Las...
by - January 15, 2017
Things are looking good at Rolls-Royce Motor Cars as the British luxury carmaker impressed by posting a six-percent jump in deliveries in 2016. Rolls-Royce’s 2016 deliveries of 4,011 units in...
by - January 15, 2017
British luxury sports car maker Jaguar is introducing a bevy of subtle updates to the 2018 Jaguar F-Type Facelift. However, these updates are so subtle that they are barely noticeable...
by - January 14, 2017
As far as Automobili Lamborghini S.p.A. is concerned, 2016 was a very fruitful year. This is all due to the fact that the luxury sports carmaker has delivered the most...
by - January 14, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries