Aston Martin and Daimler sign technical partnership agreements
Supply and development agreements for engines signed
Electric/Electronic (E/E) component supply planned
Daimler to receive up to 5% equity in Aston Martin
Daimler AG and Aston Martin Lagonda Ltd. have signed an agreement for a significant technical partnership between Daimler, Mercedes-AMG GmbH, a 100% subsidiary and high-performance brand of German automotive corporation Daimler AG, and Aston Martin.
The technical partnership will allow Mercedes-AMG and Aston Martin to develop bespoke V8 engines supporting Aston Martinâ€™s launch of a next generation of models that will incorporate cutting edge technology and newly-developed engines, combining high performance and fuel efficiency.
Daimler will receive up to five percent non-voting shares in Aston Martin without cash consideration in several steps following the progress of the technical partnership. At the same time, the company will receive an observer status on the Aston Martin Holdings board. Daimler joins Aston Martinâ€™s existing shareholder body that includes Prime Wagon, Adeem Investment and Investindustrial.
The parties are working to conclude the terms of an additional cooperation for the supply of electric/electronic (e/e) components. Furthermore, the two groups will investigate additional areas of cooperation in the future. Aston Martin will continue to manufacture all of its sports cars at its Gaydon headquarters in Warwickshire, England.
Tobias Moers, Chairman of the Management Board of Mercedes-AMG GmbH: â€śBy signing the Umbrella Agreement and the Engine Agreement both parties have agreed to this technical partnership: Mercedes-AMG will provide the British icon Aston Martin with engines for their forthcoming sports cars. At our companyÂ´s headquarters in Affalterbach we are proud to work with Aston Martin â€“ this agreement is a real win-win situation for both sides.â€ť
A spokesperson for the Aston Martin board said: â€śOur company is this year celebrating its centenary, and the partnership agreed today underpins prospects for Aston Martinâ€™s bright, vibrant and dynamic second century in the sports car business. This strategic collaboration for Aston Martin will, in our next generation of luxury sports cars, offer our customers increased performance and state-of-the-art features whilst retaining the unique character and style of an Aston Martin.â€ť