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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:

Aston Martin recalling all DB11s over Daimler steering column

Aston Martin has become the latest carmaker to be caught up in a major recall of faulty Daimler steering-column components that can cause unintended airbag deployments. The British sports car maker is recalling all 3,873 DB11 coupes built since late 2015, when production of the flagship model began, Aston Martin spokesman Kevin Watters confirmed. He said repairs would be carried out to "address an issue with the DB11 steering column upper." Daimler last year recalled more than 1 million Mercedes-Benz cars fitted with steering-column parts also supplied to Aston and Nissan. The Japanese carmaker's Infiniti brand recalled 17,500 affected vehicles. The issue is unrelated to a global recall of faulty Takata airbag inflators that have been blamed for 20 deaths. Inadequate grounding in the Daimler units leaves their circuitry vulnerable to electrostatic charges that can trigger unintended airbag deployments, according to earlier warnings. Mercedes reported "a handful of instances where drivers suffered minor abrasions or bruises" as a result of the problem. No Aston Martin customers have reported any such incidents to date, the company said, adding the necessary repair work would be carried out free of charge in less than two hours. Reporting by Laurence FrostRelated Video:

Aston Martin Vanquish Zagato goes into limited production

Thanks to "unprecedented customer interest," Aston Martin has confirmed plans to build a limited production run of Vanquish Zagato coupes. Just 99 wealthy owners will get the privilege to park one of these beauties in their garage, and each will be built to order. Deliveries are expected to begin in the first quarter of 2017, so there may still be time to put in a request, should you have the means and the desire. The Aston Martin Vanquish Zagato debuted in concept form at the Concorso d'Eleganza Villa d'Este at Lake Como, Italy in May 2016. We loved it then, and we still love it now. The entire body is hewn from carbon fiber, with a 6.0-liter V12 delivering 576 horsepower to the rear wheels. That's good enough for a 0-60 run of 3.5 seconds, though this Grand Touring car won't really be about racing any stopwatches. Aston says the Zagato's suspension will be specially tuned for "a unique GT experience," which we assume means more long-distance comfort than race track dominance. This is the fifth time Aston Martin has teamed up with Zagato, starting with the DB4 GT racecar in 1960. The last time the partnership bore vehicular fruit was in 2011, when the V12 Vantage Zagato was unveiled. Check out the high-resolution image gallery at the top to see the new Aston Martin Vanquish Zagato in all its bright-red glory. Related Video: Featured Gallery Aston Martin Vanquish Zagato View 19 Photos Design/Style Aston Martin Coupe Luxury Performance Supercars zagato aston martin vanquish aston martin vanquish zagato