Although today’s announcement will focus on the road vehicle business, the closer ties between the two companies will have an impact on their respective Formula 1 programs, which are already running in parallel, as far as FIA rules allow.
The Aston Martin name will return to the Grand Prix again next year when the Racing Point team is recruited. The new driver Sebastian Vettel becomes a global ambassador for the brand. Aston Road Car Design employees are already scheduled to work in the team’s new facility in Silverstone.
Mercedes will increase its stake in the company to 20% while offering what Aston Martin calls access to “a range of world-class technologies, such as powertrain architecture (for conventional, hybrid and electric vehicles) and future-oriented electric / electric vehicles electronic architecture for all product launches by 2027. “
Mercedes F1 boss Toto Wolff is already a private shareholder of Aston.
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The owner and CEO of Aston, Lawrence Stroll, emphasized the importance of the expanded cooperation with Stuttgart.
“This is a transformative moment for Aston Martin,” he said. “It is the result of six months of tremendous effort to position the company for success, to seize the great and exciting opportunity that lies ahead. I am extremely pleased with the progress made so far and that we are ahead of schedule despite operating in these toughest times.
“Today we are taking another big step forward, as our long-term partnership with Mercedes-Benz AG moves to another level and they become one of the largest shareholders in the company. With this new expanded agreement, we are ensuring access to world-class technology to support our long-term product expansion plans, including electric and hybrid powertrains. This partnership underpins our confidence in the future. “
Stroll also announced major new shareholders in the form of Zelon Holdings and Permian Investment Partners.
“I and my fellow investors are determined to implement this plan,” he said. “And our participation in this new major funding round demonstrates both our confidence in the prospects for the business and our commitment to the future success of Aston Martin.
“Everything I’ve just described is absolutely game changing. Of course, we also have the major marketing platform of an Aston Martin factory team that is returning to F1 next year. We now have the right team, the right partner, the right plan and the right funding to make the company one of the largest luxury car brands in the world. “
Aston’s recently appointed CEO Tobias Moers added: “Today’s expansion of our partnership with Mercedes-Benz AG is a critical step towards achieving our goals for Aston Martin. The capabilities of Mercedes-Benz AG technology will be fundamental to ensuring that our future products remain competitive and to invest efficiently in the areas that really set our products apart. “
Wolf-Dieter Kurz, Head of Product Strategy at Mercedes-Benz Cars, emphasized that technology would be delivered on “commercial terms”.
“We already have a successful technology partnership with Aston Martin that has benefited both companies,” he said. “With this new expanded partnership, we can provide Aston Martin with access to new state-of-the-art propulsion and software components, including next-generation hybrid and electric propulsion systems.
“Access to this technology and components will be granted in exchange for new shares in Aston Martin. The supply agreements for these new technologies are made on commercial terms. We look forward to continuing to work with Aston Martin and wish the company every success in its next phase of growth. “
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