Mercedes ups stake in Aston Martin - boosts technical cooperation

Mercedes-Benz is set to increase its stake in Aston Martin to 20 percent from 2.6 percent as part of an expanded technology partnership between the two automobile manufacturers.

The increased cooperation will allow Aston Martin to gain access to advanced technologies from Mercedes, including the German manufacturer's hybrid and electric powertrains.

"This is a transformational moment for Aston Martin," said Aston Martin executive chairman Lawrence Stroll. "It is the result of six months of enormous effort to position the company for success to capture the huge and exciting opportunity ahead of us.

"I am extremely pleased with the progress to date and that we are ahead of plan on timing, despite operating in these most challenging of times.

"Today, 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.

"Through this new expanded agreement, we secure access to world-class technologies to support our long-term product expansion plans, including electric and hybrid powertrains and this partnership underpins our confidence in the future."

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Aston Martin CEO Tobias Moers added: "Today’s expansion of our partnership with Mercedes-Benz AG is a critical step towards achieving our goals for Aston Martin.

"The capabilities of Mercedes-Benz AG technology will be fundamental to ensure our future products remain competitive and will allow us to invest efficiently in the areas that truly differentiate our products."

The closer ties between Mercedes and Aston Martin will likely foster even closer links between Stroll's Racing Point outfit - which will race from 2021 under the Aston Martin Racing banner - and its current engine and drive train supplier, although the collaboration will need to remain within the FIA's guidelines.

As a reminder, Mercedes F1 boss, a close friend of Lawrence Stroll, privately holds a small stake in Aston Martin, while Sebastian Vettel, Aston's future driver and brand ambassador, has also invested in the luxury automaker.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.