Daimler has no strategy to raise its minority stake in loss-making high-end automaker Aston Martin, the German company’s CEO Dieter Zetsche stated.
“We had all chances to increase our stake in Aston Martin. We do believe that for a company of that size, independence and a concentrated management is a recipe for success,” Zetsche informed reporters at the Geneva Motor Show.
Last month, Aston Martin reported its 6th successive yearly loss, however stated the DB11, a brand-new design equipped with Mercedes electronic devices, caused a rise in sales at the end of last year.
The British high-end marque deals with steep bills to keep its variety of sportscars certified with new emissions regulations, increasing its reliance on larger corporations to serve as providers for things like clean engines.
Daimler, which owns high-end brand Mercedes-Benz, struck a deal during 2013 to receive a 5 percent stake in Aston Martin in exchange for providing engines and electronic parts.
The offer helps Aston Martin, the only international luxury automaker not attached to a bigger producer, spread the expense of developing new fuel-efficient cars.
Zetsche however dismissed Mercedes taking a bigger stake in Aston. “I think simply the way we are collaborating is the perfect way for both sides and we have no strategy of changing that,” he stated.