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Industry

Christopher Bruce2013-12-19 17:30:56

Daimler Given 5% of Aston Martin to Supply Engines

It will also supply electrical equipment

 
 
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AMG and Aston Martin will work together on new engines

Aston MartinAston MartinAston MartinUnited Kingdom, 1914 > present62 models
1933 photos
24 videos
has signed a deal where it will give a 5% stake to DaimlerDaimlerDaimlerGermany, 1889 > present12 models
77 photos
1 video
in return for Daimler supplying engines, electric components and electronic parts to Aston Martin. All of the parts will be sourced from AMGAMGAMGGermany, 1966 > present17 models
103 photos
.

The deal says that AMG and Aston Martin will “develop bespoke V8 engines supporting Aston Martin’s launch of a next generation of models.” It promises that the engines will feature cutting edge technology and combine high performance with fuel efficiency.

“By 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 company´s headquarters in Affalterbach we are proud to work with Aston Martin – this agreement is a real win-win situation for both sides,” Tobias Moers, AMG Chairman.

The 5% of Aston Martin will be given to Daimler in parts as certain milestones of the deal are reached. Daimler will also be granted observer status on the Aston Martin Holdings board.

If the first portion of the deal is successful, then Daimler says that it will investigate future cooperation with Aston Martin, but it is not clear if Aston Martin would have to give up a further stake in the company as payment.

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