Aston Martin today officially announced it has agreed to enter a technical partnership with Mercedes-AMG, the high-performance brand of Daimler AG. The two sides signed a Letter of Intent today, with definitive agreements to be inked before the end of the year.
Under the proposed deal, Aston Martin will get access to “significant Mercedes-AMG GmbH and Mercedes-Benz Cars’ resources,” more specifically the development of bespoke V8 powertrains and the use of certain components of electric and electronic architecture.
In exchange, Daimler will own a stake of up to five percent non-voting shares in Aston Martin, depending on the progress of the agreement. The German carmaker will join existing shareholders that include Kuwait’s Investment DAR and Adeem Investment and Italy’s Investindustrial.
The new partnership will allow Aston Martin to launch a new generation of models that “will incorporate cutting edge technology and newly-developed bespoke V8 powertrains.” An essential element of the partnership is a supply agreement between Mercedes-AMG, Daimler AG and Aston Martin.
The deal doesn’t affect Aston Martin’s manufacturing operations, as all of its sports cars will continue to be made at the 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.
Mercedes-AMG boss Ola Källenius commented: “We are proud to work with Aston Martin and provide them with powertrain and e/e components for their forthcoming sports cars. This is proof of AMG’s technological and performance expertise and a real win-win situation for both sides.”
By Dan Mihalascu