In July 2013, Aston Martin Lagonda and Daimler AG signed a Letter of Intent for a technical partnership. Both companies have continued to work together on the agreement and have now entered into definitive agreements for Mercedes-AMG and Aston Martin to develop bespoke V8 engines that will compliment the next generation Aston line-up. The partnership will look to incorporate cutting edge technologies in the new range of engines for increased efficiency and performance.
The agreement will also outline and conclude the additional cooperation between the two companies for supplying electric and electronic components as part of the venture.
As part of the agreement Daimler will receive up to five percent non-voting shares in Aston Martin without cash consideration at several steps following the progress of the technical partnership. The company will also receive an observer status on the Aston Martin Holdings board. By entering into the partnership Daimler joins Aston Martin’s existing shareholder body that includes Primewagon, Adeem Investment and Investindustrial.
A spokesperson for the Aston Martin board stated,”Our company is this year celebrating its centenary, and the partnership agreed today underpins prospects for Aston Martin’s bright, vibrant and dynamic second century in the sports car business.”
Aston Martin will continue to manufacture its sports cars and supercars at the company’s Gaydon headquarters in Warwickshire, England.
