The long-rumored tie-up between Daimler’s Mercedes-Benz and AMG units and Aston Martin is finally here with the German automaker set to own as much as 5 percent of the British firm, as part of a broader agreement to supply the latter with engines and technology.
Today’s official announcement comes after the signing of a Letter of Intent in July this year, with the two automakers stating that Mercedes’ AMG division and Aston Martin will develop V8 engines in the UK to support the British brand’s next generation of cars, which will also incorporate “cutting edge technology” from Benz.
“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,” said a spokesman for the Aston Martin board.
Tobias Moers, Chairman of the Management Board of Mercedes-AMG GmbH, added: “Mercedes-AMG will provide the British icon Aston Martin with engines for their forthcoming sports cars. At our company´s headquarters in Affalterbach we are proud to work with Aston Martin – this agreement is a real win-win situation for both sides.”
Being that Aston Martin is the only luxury sports car maker with a global presence that is not owned by a large automotive group, we could see this cooperation with Mercedes growing in the future if everything goes well between the two partners.
“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,” said Mercedes in a statement. “At the same time, the company will receive an observer status on the Aston Martin Holdings board. Daimler joins Aston Martin’s existing shareholder body that includes Prime Wagon, Adeem Investment and Investindustrial.”
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