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Mercedes-Benz to boost stake in Aston Martin to 20%, lend it some tech

Daimler unit Mercedes-Benz is to lift its stake in Britain's Aston Martin to up to 20% by 2023, making it one of the struggling British carmaker's largest shareholders, Aston said on Tuesday. Aston Martin, popular for being James Bond's carmaker of choice, has suffered a torrid time since it went public two years ago, with its shares losing two-thirds of their value this year. The 107-year-old firm hired Tobias Moers, former CEO of Mercedes-AMG, as its new boss from August. Aston said the increase in Mercedes-Benz's stake, from 2.6% currently, would take place in several stages as part of a wider issue of 250 million shares at 50 pence each. The stock issued to the German group will have a maximum value of 286 million pounds ($372.7 million), it said. The deal will see an existing supply agreement between the two firms, in place since 2013, expanded to give Aston Martin access to key Mercedes' technology, including hybrid and electric drive systems. "We take another major step forward as our long-term partnership with Mercedes-Benz AG moves to another level, with them becoming one of the company's largest shareholders," said Aston's chairman and biggest shareholder Lawrence Stroll. The German firm will get the right to nominate one non-executive director to Aston Martin's board after its first shareholding increase, the London-listed firm said. Aston, which has started deliveries of its first sport utility vehicle, the DBX, said on Tuesday it swung into an adjusted core loss of 29 million pounds in the third quarter, versus a profit of 43 million pounds last year. Revenue in the period nearly halved to 124 million pounds, it said. Aston Martin is targeting annual capex of 250 million pounds to 300 million pounds per year between 2021 and 2025. It envisages production volumes of about 10,000 units, revenues of about 2 billion pounds and adjusted core profit of 500 million pounds by financial years 2024 or 2025.

Mercedes-AMG previews new C63 Coupe ahead of August 19 reveal

Mercedes has been spending the month of July preparing us all of the debut of the new AMG-fettled C-Class coupe. It dropped an enigmatic teaser video on us at the beginning of the month, followed by a handful of teaser images, and another video after that. Now it's released another batch of images to give us a taste of what to expect. These prototype pictured is still heavily camouflaged, so there's little more to tell from them than we already saw from the spy shots we brought you back in April. We can see the front end a bit better, bearing what looks like the same lower air dam as the C63 sedan, but everything save for the front part of the greenhouse is covered up in the swirly stuff. While the photos posted on the Mercedes-Benz Facebook page refer to this as the C63 Coupe, the AMG post references the Mercedes-AMG C-Class Coupe. Either way, we're expecting it to pack the same 4.0-liter twin-turbo V8 as the sedan (as well as the AMG GT), likely to be made available once again in 469- and 503-horsepower states of tune. Affalterbach has also posted a countdown timer on its website, with 23 days left to go until the new muscle coupe makes its debut. So mark your calendars for August 19, and watch this space for more as the German automaker is sure to keep trickling out more photos, videos, and information between now and then. Related Video:

Autoblog Minute: Frankfurt Motor Show recap

We check in with Autoblog staffers in Germany for a recap of the biggest reveals from the 2015 Frankfurt Motor Show. Autoblog's Adam Morath reports on this edition of Autoblog Minute with commentary from senior editor, Greg Migliore. Show full video transcript text [00:00:00] As the doors of the Frankfurt Motor Show open to the world's press we venture across the Atlantic for a front row seat to all the action. I'm Adam Morath and this is your Autoblog Minute. The fall auto show season kicks off this week and Germany is set to play host. We're expecting plenty of big vehicle reveals and industry news to come out of Frankfurt. [00:00:30] [Greg Migliore Interview] [00:01:00] Be sure to check in with Autoblog for tons of great photos, video and editorial coverage on all things Frankfurt. For Autoblog, I'm Adam Morath. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Frankfurt Motor Show Bentley Jaguar Mercedes-Benz SUV Concept Cars Electric Autoblog Minute Videos Original Video