Aston Martin wants more than 20% of its sales to come from electrified models by 2024

Every fourth or fifth Aston Martin sold in 2024 will be electrified, with a plug-in hybrid version of the DBX ultraluxury SUV arriving in 2023, CEO Tobias Moers said.

The struggling British supercar maker can more rapidly electrify its lineup after securing access to advanced Mercedes-Benz technologies, including next-generation hybrid and electric powertrains. In exchange, Mercedes can boost its current 2.3 percent stake in Aston Martin to as much as 20 percent, the companies said on Tuesday.