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Aston Martin and Daimler sign technical partnership agreements; new V8s; Daimler taking up to 5% equity
19 December 2013
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 Martin’s launch of a next generation of models that will incorporate advanced technology and newly-developed engines, combining high performance and fuel efficiency.
Daimler will receive up to 5% 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 Martin’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.
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