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Aston Martin and Mercedes-Benz expand collaboration

Aston Martin on Tuesday expanded a deal with Daimler to access the German automaker's technology, including its hybrid and electric drive systems, in exchange for new shares as the struggling British luxury carmaker's new boss drives changes. The company will place 250 million new shares with new and existing institutional investors at 50 pence (currently around 65 cents) a share, said the 107-year car maker that hired Tobias Moers, former CEO of Mercedes-AMG, to become its boss from August. The new shares issued would increase the size of Mercedes-Benz's stake to no more than 20% by 2023 from the current 2.6% in several stages. "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 Chairman Lawrence Stroll. The German firm would get the right to nominate one non-executive director to Aston Martin's board after its first shareholding increase. The James Bond car maker, which has started deliveries of its first sport utility vehicle, the DBX, reported third-quarter adjusted core loss of 29 million pounds compared with a profit of 43 million pounds last year and revenue that nearly halved to 124 million pounds. Related Video:

Mercedes will still provide V8 engines to Aston Martin

News of Mercedes suspending sales of the vast majority of its V8-powered cars for the 2022 model year hit the presses about a week ago. However, what wasn’t explained then was the fate of Aston Martins with Mercedes-AMG V8 engines. Many Aston Martin products are powered by AMGÂ’s 4.0-liter twin-turbo V8 engine (the M 177 version affecting AMG products), and itÂ’s one of the motors that we reportedly wonÂ’t see in Mercedes-AMG products next year. Since AMG is struggling to fit its cars with its own engine, that brings into question Aston MartinÂ’s supply of V8s. Car and Driver got some answers from Aston, though, and the situation in the UK doesnÂ’t appear anywhere near as dire as in Germany. “Aston Martin confirms that its supply of V8 engines from Aston Martin AG is not affected," an Aston Martin spokesperson told Car and Driver. So there you have it. AstonÂ’s AMG V8-powered vehicles — Vantage, DB11 and DBX — will supposedly carry on sales without interruption. ThatÂ’s great news for Aston Martin and any uber-wealthy folks who intend to buy one.  At the same time, Mercedes isn't completely out of the V8 game for 2022. In fact, it's still selling cars that directly compete with Aston Martin: AMG GT Coupe and Roadster. Those Mercedes products use the M 178 version of the AMG V8 and are reportedly unaffected by supply issues. ThereÂ’s probably even more to this story as time passes, too. Mercedes has yet to officially acknowledge the stoppage of V8s — we reached out for comment when we published our initial story, but havenÂ’t heard confirmation back yet. When we do, weÂ’ll make sure to update you on whatÂ’s going on. Related video:

Daimler and Volvo could jointly develop internal combustion engines

BERLIN — Luxury German carmaker Daimler and Volvo, owned by China's Geely, are considering cooperating to cut the costs of developing combustion engines, a magazine reported on Sunday, citing unnamed company sources. The Automobilwoche weekly cited a Volvo manager as saying there were initial talks with Daimler, but no concrete plans, while a company spokesman said it was too early to talk about firm projects, although it was not excluding anybody. A Daimler spokesman said the company's cooperation with Geely, which owns a 10% stake in the German carmaker, was developing in a positive way, but declined to comment further. Global tariffs, accelerated by a trade war between China and the United States, as well as higher investment requirements for electric and autonomous vehicles, are forcing carmakers to seek new ways to cut and share costs. In October, Volvo said it would merge its engine development and manufacturing assets with those of Geely, creating a division to supply in-house brands and also potentially others with next-generation combustion and hybrid engines. Automobilwoche said this new division would start operating by the end of March, which could be a possible starting point for cooperation with Daimler, while a further step could be a partnership to develop electric power trains. Geely and Daimler have said they plan to build the next generation of Smart electric cars in China through a joint venture and the two companies are also cooperating on a premium ride-hailing service in China. Geely bought Volvo Cars in 2010 from Ford, allowing the Swedish brand to operate on an arms-length basis. But in recent years, it has deepened cooperation between the two brands. Volvo already supplies engines to some Geely-branded vehicles, sharing technology through Geely's Lynk brand. Both companies share and develop common vehicle platforms. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.