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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.

Mercedes partners with Lufthansa to design executive jet cabins [w/poll]

Luxury automakers like to crow about their flagship models boasting first-class cabins, but the truly elite class of travelers know there's a class above that. We're talking about private jets, and now Mercedes is applying its skills to those as well. The German automaker isn't building its own jet aircraft. Its design department has, however, collaborated with Lufthansa to create a cabin space for executive jets that looks even more upscale. The concept integrates the walls, ceiling, and floor of the cabin into one fluid, continuous surface, with the furniture similarly integrated into the design with chairs, sofas, beds, and tables. It's even got a fish tank on board and auto-dimming touchscreen glass panels in front of the windows that can control the infotainment system. The design is being showcased by Mercedes-Benz Style and Lufthansa Technik at the European Business Aviation Convention and Exhibit (EBACE) in Geneva. It's the same show where Brabus displayed its jet cabin design, rival BMW Designworks did the same, and where the Mercedes' Eurocopter cabin design debuted four years ago. There, Mercedes hopes to attract orders from private customers. If the finished product ends up half as stunning as these design renderings look, we don't doubt they'll find a few takers. Mercedes-Benz Style and Lufthansa Technik develop VIP cabin for short- and medium-haul aircraft: State-of-the-art luxury high above the clouds Stuttgart/Geneva, May 19, 2015 In time for EBACE 2015, which will take place from 19 to 21 May 2015 in Geneva, Mercedes-Benz Style and Lufthansa Technik have announced their cooperation on the design and completion of VIP aircraft cabins. The two companies will jointly develop an entirely innovative, luxurious and integrated cabin concept for short- and medium-haul aircraft. Dynamic architecture instead of traditional interior cabin design: Under the joint approach adopted by the two companies, the traditional separation of ceiling, wall and floor will be entirely replaced by a dynamic, spiral layout. This gives rise to new, independent spatial zones without the typical arrangement of seat and wall elements. The new sense of space is additionally reinforced by Mercedes's typically strong emphasis on contrast in terms of material, colour and lighting. The overall design is characterised by the aesthetic appeal of state-of-the-art luxury embodied in the Mercedes-Benz brand.

BMW negotiates Daimler alliance, buys out car-service partner Sixt

Sixt sells its stake in DriveNow car-sharing to BMW BMW in talks with Daimler to combine car-sharing Combining car-sharing business to aid robotaxi plans FRANKFURT — Germany's BMW has bought out partner Sixt from their joint venture DriveNow, paving the way for a broader car-sharing and driverless taxi alliance with Daimler to compete against Uber and Lyft. Car rental company Sixt said on Monday it would generate an extraordinary pre-tax profit of about 200 million euros ($248 million) in 2018 from the sale of the DriveNow stake to BMW for 209 million euros. "With DriveNow as a wholly-owned subsidiary, we have all options for continued strategic development of our services," said Peter Schwarzenbauer, BMW's board member for Digital Business Innovation. "Our experience with mobility services supports our development of future autonomous, electrified and connected fleets," he said, adding that BMW aims to have 100 million customers for "premium mobility services" by 2025. The Sixt deal comes as BMW moves closer to a deal to combine its car-sharing services with Daimler's Car2Go, a person familiar with the discussions told Reuters last week. The German carmakers want to build a joint business that includes car sharing, ride-hailing, electric vehicle charging, and digital parking services, a senior executive at one of the companies said on Monday. Mercedes-Benz parent Daimler and BMW declined comment on the status of potential talks on their car-sharing business. "This is speculation, we do not comment," BMW said. The senior executive, who declined to be named because the plan is not public, said: "This will create an ecosystem which can also be used for managing robotaxi (driverless taxi) fleets." BMW would contribute its ParkNow and ChargeNow businesses to the common company, the executive said, adding that there were still differences of opinion over the valuation of Car2Go. The market for ride-hailing services currently makes up around 33 percent of the global taxi market, and could grow eightfold to $285 billion by 2030, once autonomous robotaxis are in operation, Goldman Sachs said in a recent research note. BMW and Daimler are now working on developing autonomous cars, vehicles which could enable them to up-end the market for taxi and ride-hailing services.