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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:

2021 Mercedes-Maybach S 580 base price starts at more than $185,000

A few months ago, the 2021 Mercedes-Maybach S 580 made its debut as the pinnacle of the Mercedes lineup. Now the company has revealed the price, and, unsurprisingly, it's not cheap. The base price for the sedan is $185,950 including destination fee. That price makes the Mercedes-Maybach S-Class one of the more expensive flagship sedans on the market. It's more than $25,000 more than the top-of-the-line BMW M760i, and more than $50,000 more than the Audi S8. It's even $20,000-plus more than the Mercedes-Maybach GLS 600 SUV. On the other hand, the Mercedes-Maybach S 580 is cheaper than the $200,000-plus Bentley Flying Spur and the $300,000-plus Rolls-Royce Ghost. All this money gets you an S-Class with a unique grille and fascias, as well as an extra 7 inches of length between the wheels. Nearly every surface of the interior is wrapped in leather, and whatever isn't is probably finished with wood or features a screen. Powering it is a twin-turbocharged 4.0-liter V8 making 496 horsepower and 516 pound-feet of torque. It also has a nine-speed automatic transmission, air suspension and four-wheel steering. If you're looking to pick one up, they'll be reaching dealers this summer. Related Video:  

Here's today's round of auto plant closures in response to coronavirus

More automakers have shuttered factories, as businesses everywhere work to slow the spread of the Covid-19 coronavirus — and as the pandemic slows sales and disrupts parts supply chains. On Friday, the following closures were announced: • Volvo will close its factories in Sweden and the United States from March 26 to April 14. Volvo's U.S. facility, in Charleston, South Carolina, makes the S60 sedan. Its assembly plant in Torslanda, Sweden, turns out the XC90, SC60, and V90. Other Swedish facilities make engines and component parts. A Volvo factory in Ghent, Belgium, that builds the XC40 and V60 closed earlier this week and is expected to remain offline until April 6. Volvo's four factories in China have been reopened after a shutdown earlier this year. • Jaguar Land Rover announced that it will suspend production at its assembly plants in the UK over the coming week. The shutdown is expected to last until April 20. Elsewhere, production continues at the company's factories in India and Brazil, and JLR's joint-venture plant in China reopened at the end of February. • Bentley is closing its factory in Crewe, England, for four weeks, effective today. • Bugatti has put its atelier in Molsheim, France, on hiatus. No date was given for when assembly of its supercars might resume. • Mercedes-Benz on Monday will shut down its SUV factory in Alabama and its van assembly plant in South Carolina. Both will remain closed for a minimum of two weeks. Tesla yesterday revealed that it will suspend operations at its Fremont, California, vehicle assembly plant next week, on order from local officials there. Yesterday's factory closure announcements also included the U.S. assembly plants for Toyota (until April 6), Volkswagen (through March 29), Subaru (through March 29), and Hyundai (no time period specified). They join GM, Ford, Chrysler, Honda, Nissan, and Harley-Davidson, which earlier this week announced the suspension of production at their facilities. Plants/Manufacturing Bentley Bugatti Jaguar Land Rover Mercedes-Benz Volvo coronavirus