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

Article by Andrew Christian, 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]

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