Aston Martin and Mercedes-Benz to Co-Develop Automotive Technologies
Subsequent to an initial agreement reached back in July, Aston Martin and Mercedes-Benz have today officially launched their new technical partnership.
The two companies have continued to work together following the signing of a Letter of Intent this past summer, with the initial discussions now having resulted in the signing of definitive agreements.
The agreement will allow Mercedes-AMG and Aston Martin to develop bespoke V8 engines supporting Aston Martin’s launch of a next generation of models. A specific focus for the new engine designs will be to combine high performance with greater fuel efficiency.
Daimler will also receive up to five per cent 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 Primewagon, Adeem Investment and Investindustrial.
The parties are also working to conclude the terms of an additional cooperation for the supply of electric/electronic (E/E) components, and will further investigate additional areas of cooperation in the future.
A spokesperson for Aston Martin said: “This strategic collaboration for Aston Martin will, in our next generation of luxury sports cars, offer our customers increased performance and efficiency whilst retaining the unique character and style of an Aston Martin.”
Mercedes-AMG boss Tobias Moer said: “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.”