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Aston Martin confirms Mercedes-AMG boss Moers to replace CEO Palmer

Aston Martin confirmed on Tuesday that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer, who stepped down on Monday. The Financial Times newspaper reported over the weekend that Palmer would step down, before he had been informed. A source familiar with the situation had also confirmed to Reuters the planned move. "The board has determined that now is the time for new leadership to deliver our plans," Lawrence Stroll, Aston Martin Lagonda's Executive Chairman said. The company said Moers, who will be based at its headquarters in Warwickshire, had built a reputation for transforming businesses in tough environments during his 25 years in senior roles at Daimler. Germany's Daimler AG owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines. "Under Tobias’ leadership, Mercedes-AMG has more than doubled its product portfolio and quadrupled the number of AMG units sold, with a clear pipeline of further expansion opportunities, especially in electrification of powertrains in the performance segment," Aston Martin said in a statement. "TobiasÂ’ focus on operating and manufacturing efficiency has delivered significant margin expansion. This strong financial performance was supported by the introduction of a clear brand management strategy, which delivered a measurable increase in brand value and awareness." Aston Martin has seen its share price plummet since floating in October 2018. The 107-year old British luxury carmaker earlier this month posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. "All of my and TobiasÂ’ energy will be dedicated to building on the CompanyÂ’s inherent strengths, its brand, its engineering prowess, and the skills of its people to enable Aston Martin to become one of the pre-eminent luxury car brands in the world," Stroll said. Related video:

Mercedes investing $500 million for new Sprinter plant in SC

The commercial van segment is exploding in popularity in the US right now with a vast array of recent products from multiple marques, and there's even more on the way from automakers like Hyundai. Mercedes-Benz is trying to grab a bigger share of the expanding market, too, and is launching its smaller Metris here in the fall. Now comes word that Mercedes will construct a $500-million factory in Charleston, SC, that will build the next-gen Sprinter domestically. According to Mercedes, construction of the new plant will begin in 2016, and when complete, the site will cover around 200 acres, including a body shop, paint shop and assembly line. It will also employ 1,300 people who will be building Sprinters badged as both Mercedes and Freightliner models. Rumors about this new construction go back to late last year. Mercedes currently has to ship some partially disassembled Sprinters into the US from Germany, paying import duties on them, and then the company puts the vans back together at a site in Ladson, SC. The process obviously adds costs to the models, and the domestic factory should mean a more price-competitive vehicle. Plus, a local factory means quicker deliveries to dealers. Despite the laborious import process, the Sprinter is a hit in the US. Mercedes sold 25,745 of them in 2014, which made the country the van's second-largest market behind Germany. They were first launched here in 2001 and since then have gained a nine-percent market share in the segment, according to the company. Mercedes is on a construction boom at the moment. The company is building a new corporate headquarters for the US in Atlanta, GA, due to be complete in 2018. The German brand is also investing $2.4 billion to expand its Tuscaloosa, AL, factory to build models like the forthcoming GLE-Class. MERCEDES-BENZ VANS TO INVEST AROUND $500 MILLION IN NEW VAN PLANT IN SOUTH CAROLINA, U.S. 09/03/15 from Mercedes-Benz New plant to be built in Charleston, South Carolina, beginning in 2016 Next generation Sprinter also to be manufactured in the U.S. Expansion of the global production network as part of the "Mercedes-Benz Vans goes global" growth strategy Creation of more than 1,300 new jobs planned Volker Mornhinweg: "We are investing around half a billion dollars to create a top-notch Mercedes-Benz van plant here in South Carolina.

Rain prolongs the Championship battle | 2016 Brazilian Grand Prix recap

Rain and an old-school circuit are the antidotes to Formula 1's constricting technical regulations and Tilke tracks. At Brazil's Autodromo Jose Carlos Pace – otherwise known as Interlagos – rain Saturday night and on race day washed away everyone's careful plans, except for those of the man at the front of the pack. Lewis Hamilton put his Mercedes-AMG Petronas ahead of the field throughout the weekend. On Sunday, a storm-delayed start behind the Safety Car assured Hamilton of a clean path to the lead and a clear track. The Briton didn't waste it, pulling out a gap on teammate Nico Rosberg behind, and Rosberg appeared to have no interest in going hard after Hamilton. Safety Cars and red flags kept resetting the gap to zero, though. After the Mercedes-AMG GT S led the first seven laps, it emerged again on Lap 13 for another six laps when Marcus Ericsson crashed his Sauber. Seconds after racing resumed, Kimi Raikkonen aquaplaned his Ferrari into the wall on the front straight. That caused the first red flag, leading to another eight-lap Safety Car interval, then a second red flag stoppage due to conditions on Lap 28, then three more Safety Car laps, and then, finally, racing again. Hamilton never surrendered his lead. The Briton changed tires once during a stoppage, and drove fast enough to cover the full race distance despite the intermissions. Afterward, he said "it was a very easy race." Rosberg had it harder, defending against the preternatural Max Verstappen in third. Barring misfortune it's already clear the Red Bull pilot has at least one Driver's Championship in his career future. In Brazil the young Dutchman drove like he's worthy of the hardware right now. After Verstappen passed Rosberg for second on Lap 34, the Red Bull driver pitted for intermediate tires on Lap 44 – a huge gamble in the conditions – coming back out in fifth. That tire wager failed, giving Rosberg a safe position in second when Verstappen had to pit for extreme wets on Lap 54 of 71. The teenager re-emerged in 16th. Over the race's final 17 laps Verstappen passed 13 drivers at six different places on track. He ran it close-but-clean a couple of times, especially when getting around Sebastian Vettel and Sergio Perez, but he was simply untouchable. Not only did the Dutchman score an amazing third place, he put in what could be the drive of the season.