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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.

Aston Martin debuts its first F1 race car in 61 years — green is for go

LONDON — James Bond said he was thrilled, and seven-times Super Bowl champion Tom Brady threw in support from afar as Aston Martin showed off its first Formula One car in 61 years on Wednesday. The launch, presented online by "Quantum of Solace" actress Gemma Arterton, played up the 108-year-old marque's connection to the fictional British secret agent as the Silverstone-based team started a new era. "I just want to send a massive congratulations to all at Aston Martin for getting back onto the F1 grid for the first time since 1960," Bond actor Daniel Craig said in a video message. "It is an incredible thrill for me, and I'm sure all F1 fans, to see Aston Martin racing again in their iconic Aston Martin Racing Green. "Go take it to them. I'll see you on the grid." The new James Bond film "No Time to Die," due for release in September, features four Aston Martins — the agent's car of choice. Four-times world champion Sebastian Vettel, freshly arrived from Ferrari, and Canadian Lance Stroll will be the ones with the license to thrill and both liked the look of the sleek green AMR21 car that marks Aston's return as a constructor. Tampa Bay Buccaneers quarterback Brady offered his support in a video message for a team that last year, as Racing Point, finished fourth overall but won a race and were often third fastest. "Hey Lance and Seb, looks like your ride is finally here and it looks amazing," he said. "I'll be cheering you guys every step of the way...good luck and kick some ass." Lawrence Stroll, team owner and father of Lance, is also the executive chairman of Aston Martin and has big plans for expanding the brand and taking his team to the top. "I have dreamed about this day for a very long time," he said. "My first dream was to own a Formula One team. My second dream was to acquire a significant shareholding in Aston Martin Lagonda. Today is about the merging of those two dreams. "This is just the beginning. The team is pushing forward, and our ambitions are limitless. We now have the pieces in place, the people and the partners, to make real progress."  Related Video:

NHTSA grants Aston Martin temporary exemption from new safety standards

A few months ago, we reported that Aston Martin was in danger of running afoul of new US safety regulations that could force it to take some of its most popular models off the market. The automaker, its dealers and – according to the overwhelming results of our informal online pole – you yourselves reasoned that the constricting regulations were unfair to a small-scale, niche automaker like Aston Martin. And the National Highway Traffic Safety Administration evidently agrees, granting the British automaker a temporary exemption from the regulations and allowing it to keep its cars on the US market. The issue comes down to new side-impact crash standards that require motor vehicles to better withstand a collision with a stationary object like a pole or a tree. The Vantage and DB9 models do not meet the new regulations, and Aston, it seems, doesn't have the wherewithal to re-engineer the cars to meet the regulations. But given the small nature of the independent automaker and the relatively small number of vehicles it sells, NHTSA has granted Aston an exemption. As a result, instead of being forced to comply with the new regulations that took effect for the coupes this past September and for convertibles the next – or else withdraw from the market altogether – the DB9 coupe will have until August 2016 to comply, while the DB9 Volante and both coupe and convertible models in the Vantage line will have until August 2017. It's entirely possible that, by that point, Aston will have all-new models on offer, potentially replacing the Vantage and DB9 models or giving it sufficient new products to offer that taking those older, non-compliant models off the market would not cause it the same degree of financial harm. The automaker has an all-new platform in the works and a new engine deal with Mercedes-AMG in place, and was recently spotted testing what could be the first of its new generation of models at the Nurburgring.