Daimler "Fundamentally Open" to More Stake in Aston Martin
The appointment of former Nissan executive Andy Palmer as the new CEO of Aston Martin has opened deeper talks between the British car maker and German auto conglomerate Daimler. Reuters is reporting that Daimler boss Dieter Zetsche is “fundamentally open” to deeper talks with Aston Martin so long as Palmer wants to have one.
That appears to be a certainty given Palmer’s attempts to persuade Nissan CEO Carlos Ghosn to invest in Aston Martin when he was still with Japanese manufacturer. Those discussions didn’t amount to anything and many in the industry believe that it was a factor in Palmer jumping ship — or cars — to the British automaker.
Now that he’s with Aston Martin, Palmer’s close relationship with Daimler during his time at Nissan is expected to play a big role in Aston Martin’s dealings with the German luxury car maker.
Daimler already owns five percent of Aston Martin and the two companies have existing engine deals with each other, including a tie-up to develop a new generation of AMG V-8 engines.
Don’t be surprised if talks between the two sides heat up soon. Daimler’s open to it and with Palmer now the CEO of Aston Martin, the pieces are in place for that to happen.
Click past the jump to read more about the Daimler-Aston Martin partnership.
Why It Matters
Zetsche’s comments should ring music to the ears of Andy Palmer. After all, the latter’s new role as Aston Martin CEO means that he’s got a say in the future of the company. It also helps that he already has a positive relationship with Daimler from his days with Nissan.
It’s an admittedly complicated process that will probably take some time to finalize. But if both sides are, as Zetsche says, "fundamentally open" to "deeper talks," then there’s no reason why it can’t happen sooner than later.
Is it me or does this courtship have all the signs of a happy engagement, maybe even some wedding bells down the road?
Daimler already owns a small stake in Aston Martin. The two companies also have an existing engine collaboration. So again, I ask. Why stop there Daimler?
Aston Martin is in a pretty vulnerable state at this point and you have the financial capabilities to make it work and add Aston Martin to an impressive list of companies that already includes Mercedes-Benz, Smart, and Maybach.