Aston Martin in Technical Partnership with Mercedes-AMG GmbH
From the Robb Report Luxury Newswire
Aston Martin has announced moves toward a technical partnership with Mercedes-AMG GmbH, a subsidiary of Daimler AG. A Letter of Intent has been signed and both parties are working towards signing definitive agreements before the end of the year. Such agreements are subject to applicable regulatory approvals.
The proposed deal will see Aston Martin access significant Mercedes-AMG GmbH and Mercedes-Benz Cars’ resources, allowing the development of bespoke V8 powertrains and the use of certain components of electric/electronic (e/e) architecture.
Daimler AG will own a stake of up to 5 percent non-voting shares in Aston Martin, depending on the progress of the agreement. The company will join the existing shareholders that include Investment DAR, Adeem Investment and Investindustrial. 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.
An essential element of the planned partnership is a supply agreement between Mercedes-AMG, Daimler AG and Aston Martin. Aston Martin, which is Britain’s most exclusive sports car company, is celebrating its centenary this year. The company will continue to manufacture all of its sports cars at its Gaydon headquarters in Warwickshire, England.
“Working with Mercedes-AMG in this way while, of course, remaining independent and preserving the unique character and style of Aston Martin that has been the mainstay of the company throughout its 100-year history, points to a very bright future for the company as it starts its second century in business,” said Aston Martin Product Development Director Ian Minards.