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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 Project 003 details revealed in dealer brochure

Aston Martin showed the as-yet-unnamed Project 003 hypercar at the 2019 Geneva Motor Show. Now that the English carmaker is accepting deposits for the coupe, it has provided dealers with brochures for prospective customers. Two of those prospective customers let Carscoops and Diario Motor flip through the pages and see what the fuss is about. Each site words some of the specifics a bit differently, which we're not sure is down to the language in the brochure or the way it's written up. Carscoops says Aston Martin's targeting a combined 1,000 horsepower, DM says there will be 1,000 hp. Either way, it's a pleasant ballpark to play in. We say "combined" because there will be a brand new twin-turbo V6 in back and an electric motor on the front axle. The duo means all-wheel drive in addition to that potential four-figure horsepower. If Aston Martin does hit 1,000 ponies, that would put the "son of Valkyrie" just behind the Valkyrie, which makes all of its 1,160 hp with a naturally aspirated 6.5-liter V12 built by Cosworth. The brochure says dry weight will come in below 1,350 kilos, or 2,976 pounds. The brochure also asserts a power-to-weight ratio of 750 bhp per tonne. Working backward, that ratio would mean 1,012 hp if the 003 came in right at 2,976 pounds. Shifting through an F1-inspired eight-speed dual-clutch gearbox, the carmaker expects a 0-60 time of "less than 2.5 seconds," to be expected for a car about 100 pounds heavier than a McLaren 720S with at least 200 more horsepower. And according to Diario Motor's telling, top speed will crest 350 kilometers per hour, or 218 miles per hour; Carscoops says terminal velocity lies beyond 220 mph. Lots of Valkyrie tech will be adapted for the junior coupe, including the active suspension and active ride height, as well as platform control. A limited-slip differential will keep the back end in line with what we're sure will be fancy electric motor control on the front axle. Seems all that was said about the sci-fi cabin — which TopGear magazine's Jack Rix showed us recently — is that ingress and egress will be less challenging than on the Valkyrie. Only 500 units will leave the factory, in both left- and right-hand drive, deliveries to begin in 2021. American purchasers will need to leave $300,000 with their dealers to hold a place in line. Those monies will be applied to an MSRP that starts "at no less than GBP875,000" before options, or roughly $1.2 million in green money. AM-RB 003 View 9 Photos

Aston Martin's project 003 could have a name: Valhalla

When Aston Martin unveiled the Valkyrie at the 2017 Geneva Motor Show, the carmaker's chief designer told Drive, "We have a bunch more V names that we've thought of and haven't used." Earlier this year, AutoGuide discovered a trademark application for the name Varekai, which Aston Martin will use for its crossover. Now the same site has found another trademark application at the with World Intellectual Property organization, this time for Valhalla, which it expects to be applied to the "Son of Valkyrie," formerly known as 003. The automaker made the filing on October 12, 2018. If you're unclear on all the connections, the Valkyrie was codenamed AM-RB 001, denoting the first collaboration between Aston Martin and the Red Bull Racing Formula 1 team. The Valkyrie AMR Pro was AM-RB 002. That makes the Valhalla, nee 003, next in the chute. The naming inverts Norse myth, since the legends say Valkyries escorted fallen warriors to the Hall of the Slain in Valhalla. In Aston Martin's working, you need to go through Valhalla to get to the ferocious women with the swords. Although not thought to be co-developed with Red Bull Racing, the Valhalla will retain lightweight, carbon-fiber-intensive construction and active aerodynamics like its larger siblings, as well as an active suspension. As a road-legal and more practical step below the Valkyries, the Valhalla includes "space for luggage," and a quieter cabin. Instead of a naturally-aspirated V12, the third member of the family goes with a turbocharged V6 with hybrid help. Anticipated to be a full-on hypercar, the competitive set is thought to include the McLaren Speedtail and whatever succeeds the Ferrari LaFerrari. Aston Martin will make 500 Valhallas, deliveries commencing in late 2021. Before then, don't be surprised to see the Vanquish name return on the company's Ferrari 488 and McLaren 720S challenger. Related Video: