/ Aston Martin, Industry, News, Nissan / Report – Former Nissan exec wanted carmaker to buy Aston Martin stake

Report – Former Nissan exec wanted carmaker to buy Aston Martin stake

Linked In Share
Report - Former Nissan exec wanted carmaker to buy Aston Martin stake

Nissan refused proposals from then senior executive Andy Palmer to invest in Aston Martin before his departure to the British sports car maker, hint sources with knowledge of the matter.

Palmer, 51, is now stepping down as Nissan CEO Carlos Ghosn’s second-ranked lieutenant later this month to become Aston Martin’s CEO, a move regarded as clearing the way for more cooperation with Daimler, Mercedes-Benz’s parent.

Palmer tried in 2012 and 2013 to convince Ghosn, who heads Nissan and alliance partner Renault, to purchase an Aston stake. One company insider said that they looked carefully at the proposal but that they passed on it, without revealing the reasons for the rejection. At Nissan, Palmer faced growing cooperation between the luxury Infinti brand and Daimler, which has a 4% stake in Aston Martin and a deal to provide the British carmaker with engines and electronics.

London-based ISI Group analyst, Arndt Ellinghorst stated that “I’m sure that played a role in bringing him aboard at Aston Martin. I wouldn’t be surprised if that relationship deepened – it only makes sense.”

Privately-held Aston needs new investments to stay competitive and meet tightening regulations on emissions and safety rules, as DB9 and Vantage models are proving to be problematic at this chapter with U.S. dealers seeking exemptions from new standards. The carmaker is one of the last major luxury auto brands without a large automotive group behind it.

By Gabriela Florea

by Aurel Niculescu (my Google+) - Friday, September 5th, 2014 - filed under Aston Martin, Industry, News, Nissan. Image credit: .
Linked In Share
Related Articles
ceo considered departure Palmer stake


Discuss: Report – Former Nissan exec wanted carmaker to buy Aston Martin stake

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

2016 CT6 Cadillac gets streaming rearview technology
2016 CT6 Cadillac gets streaming rearview technologyThe streaming video rearview technology will expand the driver’s vision in the upcoming 2016 CT6, eliminating any rear seat, ...
US: Ally gets out of 6 years bailout
US: Ally gets out of 6 years bailoutAlly Financial Inc. stated that it would finally resolve its bailout after the U.S. government will sell the last $1.25 billion ...
Daimler puts aside €600 million for EU antitrust investigation
Daimler puts aside €600 million for EU antitrust investigationThe Germany-based company, Daimler, stated on Thursday it is putting aside 600 million euros to cover any potential costs that ...
Renault-Nissan and AvtoVAZ merge into Russia’s biggest auto parts buyer
Renault-Nissan and AvtoVAZ merge into Russia’s biggest auto parts buyerAvtoVAZ and the Renault-Nissan alliance will come together in terms of purchasing activities in Russia. The merged unit will now ...
Report – Volkswagen will meet its 2017 cost-cutting goal
Report – Volkswagen will meet its 2017 cost-cutting goalVolkswagen CEO, Martin Winkerton, has said according to a source that the carmaker is on the right track to reach its goal of ...
GM’s bankrupt predecessor helps customers get the $10 billion compensation
GM’s bankrupt predecessor helps customers get the $10 billion compensationGeneral Motors customers gained a new friend in their run for the compensation worth $10 billion. The automaker’s bankrupt ...
F1 to have new engine rules in 2016 – report
F1 to have new engine rules in 2016 – reportDec.19 (GMM/Inautonews.com) F1 is now speeding towards yet another new set of engine regulations. On Thursday at a Geneva ...
GM and Jaguar Land Rover stopped deliveries to Russia
GM and Jaguar Land Rover stopped deliveries to RussiaIn response to the slide in the rouble’s value, automakers, General Motors and Jaguar Land Rover included, decided to stop ...
Uber wants to patent its gouging prices
Uber wants to patent its gouging pricesWhile critics accuse Uber of price gouging over the high fees asked in Sydney for the people who were fleeing a hostage crisis, ...
Ford closes Genk Plant in Belgium
Ford closes Genk Plant in BelgiumWith a production of around 14 million cars over the past 50 years, Ford shut the doors of its plant in Genk, Belgium just a day ...
Price of U.S. gas reaches under $2.50 a gallon
Price of U.S. gas reaches under $2.50 a gallonU.S. drivers are paying less than 2.50 dollars a gallon at the gasoline pump for the first time in more than 5 years. Retail ...
Toyota will invest $126M to expand powertrain operations
Toyota will invest $126M to expand powertrain operationsToyota announced today that it will invest $126 million in the expansion of its powertrain operations in Ann Arbor and also in ...
Spyker declares bankruptcy
Spyker declares bankruptcyOn Tuesday, Spyker, the Dutch sportscar maker which owned Saab, was declared bankrupt when not succeeding to secure a loan that ...
Mazda readies seven tuned cars for its home Tokyo Auto Salon
Mazda readies seven tuned cars for its home Tokyo Auto SalonThe Japanese automaker has prepared seven tuned models, all of them scheduled to make their official public debut during the ...
Audi tells us that Q7’s 3D sound systems are the best around
Audi tells us that Q7’s 3D sound systems are the best aroundThe German automaker, the second largest premium auto manufacturer in the world, keeps giving us more details about its ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Mazda_tokyo_salon
audi_sound_Q7
hyundai_infotainment_carplay_android_auto
Rolls-Royce_Suhail
puritalia-4270
918_crash
Tacoma_teaser0
Ferrari_F12_PP
Lexus_F_teaser0
lamborghini aventador crash india 1
BMW M4 Coupe G-Power tuning 1
Jeep-Renegade-1

More automotive from inautonews
The streaming video rearview technology will expand the driver’s vision in the upcoming 2016 CT6, eliminating any rear seat, rear pillar or passenger obstructions. It will also get rid of the traditional blind spots and any other impediments of the lanes view. The new car from Cadillac will be ...
read more
Inautonews Editors Section
Test Drive: Ford Fiesta ST
Test Drive: Ford Fiesta ST The current generation of the Ford Fiesta ST has been officially presented to the public back in March, 2012, during the Geneva Motor Show, and it ...
Test Drive: Renault Twizy – Back to basics
Test Drive: Renault Twizy – Back to basics Renault has been producing the Twizy for a couple of years now, in its Valladolid, Spain, facility but spotting one on European roads can turn out ...
Test Drive: Mercedes-Benz SL400
Test Drive: Mercedes-Benz SL400 The Mercedes-Benz SL is currently in its sixth generation and since the company has released a new entry-level, the SL400, which is basically the ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety [Video] Swedish magazine says new Mondeo is heavier than claimed, could be illegal to drive fully loadedTeknikens Värld, a Swedish magazine that became (in)famous back in 1997 for coining the Mercedes ... Recall roundup: Ford vehicles for Takata airbag issue in the USFord Motor Co, the second-largest US automaker has decided to expand the recall of Takata-equipped ...
Safety Section