The agreement will allow AMG and Aston Martin to develop bespoke V8 engine that will be installed in the models of the next generation of Aston Martin. These engines will feature the latest technology (turbo) and combine high performance and fuel economy.
The Daimler will acquire up to 5% of the shares of the UK company without voting rights and without cash consideration. It will have observer status on the board of Aston Martin Holdings.
The Aston Martin will continue to manufacture all its cars at its headquarters in Gaydon, England, with a representative from the Board stating:
Aston Martin and Daimler sign technical partnership agreements
Thursday 19 December, 2013, Gaydon/Stuttgart: Aston Martin Lagonda Ltd and Daimler AG have signed an agreement for a significant technical partnership between Aston Martin, Daimler and Mercedes-AMG GmbH, a 100% subsidiary and high-performance brand of German automotive corporation Daimler AG.
Following the signing of a Letter of Intent in July the two companies have continued to work together, exploring opportunities for co-operation and these discussions have 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 that will incorporate cutting edge technology and newly-developed engines, combining high performance and fuel efficiency.
Daimler will receive up to five percent 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 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.
A spokesperson for the Aston Martin board said: “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.”
“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.”
Tobias Moers, Chairman of the Management Board of Mercedes-AMG GmbH: “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.”
