Daimler is to take a stake of up to 5% in Aston Martin as part of a technical tie-up between the British sports car maker and AMG, the performance division of Mercedes-Benz.
Aston Martin said the deal will give it “significant access” to the resources of AMG and Mercedes-Benz technology, allowing the development of V8 powertrains and the use of certain electric/electronic architecture components.
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The company said in a statement: “The technical partnership will support Aston Martin’s launch of a new generation of models that will incorporate cutting-edge technology and newly developed bespoke V8 powertrains.”
Product development director Ian Minards said that AMG had been specifically selected as the basis for powertrain development processes.
Aston Martin and Daimler signed a letter of intent today and will sign definitive agreements for the partnership during the second half of the year, subject to regulatory approvals. Daimler will own a stake of up to 5% non-voting shares in Aston Martin, joining existing shareholders that include Investment DAR, Adeem Investment and Investindustrial.
