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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 Valhalla project rebooted with Mercedes-Benz technology

Aston Martin will leverage its access to the Mercedes-Benz parts shelf to revise the Valhalla it plans to release in the coming years. Specifications haven't been finalized yet, but the supercar will most likely arrive with a German heart. Announced in early 2019 as the Project 003, and named Valhalla later that year, the Ferrari-punching model was on track to make its debut with a 3.0-liter turbocharged V6 mounted behind its passenger compartment. Aston Martin proudly pointed out that the six was the first engine it developed in-house since the Tadek Marek-designed 5.3-liter V8 entered production in 1969. These plans changed after Daimler purchased a 20% stake in the firm, however. Aston Martin boss Tobias Moers (whose last position was at the head of Mercedes-AMG) told investors that his team is "re-assessing" the Valhalla, and that it will "probably have a different drivetrain" than the concept. He didn't reveal what the model will be powered by, and he stressed that nothing is off the table. Mercedes-Benz has a wide range of four-, six-, eight-, and 12-cylinder engines in its parts bin, plus hybrid technology and electric motors. Electrification remains in the pipeline regardless of the path the company chooses to take. "With the transformational technology agreement with Mercedes-Benz, there are other chances for us regarding combustion engines, but we still have an electrified drivetrain," he said without providing more specific details. It sounds like Aston will make visual tweaks to the Valhalla, too, because Moers revealed that buyers will be shown an updated version of the car in the next four months. It's unclear whether it will be presented to the public, too. Regardless, the car's introduction is tentatively scheduled for late 2023, so it will likely arrive here as a 2024 model. Moers confirmed that a plug-in hybrid model with what he described as "a reasonable electric range" will join the Aston Martin range in the coming years, too. He added that three new variants of the DBX, the firm's first SUV, are on their way as well. One is a plug-in hybrid. Details about the others aren't known, but another could be a sportier version positioned at the top of the range. Finally, the first electric Aston Martin will arrive in about 2025.

Bond in Motion car exhibit coming to L.A.'s Petersen Automotive Museum

The Petersen Automotive Museum was already a must-see for any car enthusiast visiting Los Angeles, and it's about to get a little better should you also be a James Bond fan. Opening Sept. 25 in the museum's appropriately named Grand Salon gallery will be the "Bond in Motion" exhibit of more than 30 cars, motorcycles, boats, submarines, helicopters and scale models used during the creation of the 24 official James Bond films. The timing corresponds with the Oct. 8 release of "No Time to Die," the upcoming 60th anniversary of the first Bond movie ... and hey, the release of our "All 24 James Bond movies ranked only by their cars." Highlights include many of the most famous Bond cars, including a 1977 Lotus Esprit S1 in submarine guise from "The Spy Who Loved Me," an Aston Martin V8 from "The Living Daylights," a 1999 BMW Z8 from "The World is Not Enough," the Aston Martin DB10 specially made for "Spectre," the post-flipped Aston Martin DBS from "Casino Royale," and one of the 1964 Aston Martin DB5s from the recent movies. I visited an exhibit of the same name back in 2013 at England's sensational Beaulieu Motor Museum. Although the one in L.A. won't be as comprehensive as that, simply due to logistics, many of the same vehicles and props will be present. You can see some of the photos from that exhibit below, and should you be a James Bond fan, can appreciate that it went much further than the Aston-heavy headliners above. In fact, it was hard to see what was missing from the collection. Tickets are on sale for the opening reception Sept. 23 featuring "one-night-only photo opportunities, live entertainment, food and martinis, shaken not stirred." Considering this is Los Angeles we're talking about, it's perfectly plausible this means noteworthy cast members from past films. Prices are $60 for general admission and $199 for VIP access, which includes exclusive access to the exhibit, "007 lounge" and a curated talk, plus complimentary food and a hosted bar.  The exhibit runs until October 2022.  AMC Hornet and Mercury Cougar XR7 View 22 Photos