Aston Martin: Mercedes acquires 20% stake in the luxury brand.

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Mercedes-Benz Germany's will increase its stake in Aston Martin Lagonda as part of the carmaker's revitalization plan.Aston Martin, whose cash has been bleeding since the disastrous stock market float, said Mercedes would increase its holdings "in the range" from 5% to 20%.

The announcement came after the London stock market closed, called the deal. "Strategic technology deals"It has been months since Formula One owner Lawrence Stroll took over the British luxury brand.The deal will give Aston Martin, whose profitability over decades has never met its status as one of the UK's leading brands, has access to Mercedes' electric vehicle technology.

Mercedes partnered joker123 with Aston Martin for the first time in 2013, holding a 5 percent stake in a deal that saw the two companies developing engines.Aston Martin, also known as James Bond's favorite car company, plans to increase sales to 10,000 vehicles by 2025, up from 5,862 a year ago.

The company also said on Tuesday it had a long-term strategy to raise revenues to £ 2 billion and earn about £ 500 million over five years.Mr Stroll, Canadian billionaire and Aston Martin Chief Executive Officer, said: “This is a transformational moment for Aston Martin, the result of a tremendous six-month effort to position the company successfully to seize the opportunity. Great and exciting that is ahead of us.

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Wolf-Dieter Kurz, Head of Product Strategy at “Through this newly expanded partnership, Mercedes-Benz Cars will be able to give Aston Martin access to cutting-edge powertrain and technology, software and components, as well as the next generation of hybrids. And electric drive system The first step of the investment deal will see Mercedes increase its stake to 11.8 percent as part of the £ 140m issue.

Aston Martin's shares have failed since the company was floated on the London Stock Exchange in 2018 at £ 19 per share.By the time Chief Executive Andy Palmer was laid off in May, the price had fallen 94 percent as investors. Bail for fear of falling sales and rising costs
Palmer is replaced by Tobias Moers, Mercedes' former head of AMG performance vehicles.On a separate Tuesday, Aston Martin posted a £ 29m pre-tax loss for the third quarter, down from a £ 43m gain in the same period last year.