Daimler gets 5% non-voting stake in Aston Martin

Article by Christian A., on December 19, 2013

Daimler will acquire a 5 percent non-voting stake in Aston Martin to complete an agreement disclosed in July 2013, according to a report by the Financial Times. Under the agreement, Aston Martin will collaborate with Daimler's Mercedes-AMG GmbH division to develop a new generation of bespoke V8 engines for its vehicles. The agreement will allow Aston Martin to spread the cost of developing new vehicles.

The British company remains the only global luxury carmaker not having direct ties to a larger carmaker. While its luxury rivals like Bentley and Rolls-Royce are backed financially and technologically by their parents – Volkswagen and BMW respectively – Aston Martin have no one to turn to, thus making it hard for the carmaker to easily find funding for the development of a range of new vehicles.

Daimler announced in July that Mercedes-AMG and Mercedes-Benz units will supply engines and electronic components, respectively to Aston Martin. Aston Martin has been struggling to post gains since 2008 and even posted a 9-percent drop in profit as well as a 10-percent dive in sales in 2012.

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.”

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 state-of-the-art features whilst retaining the unique character and style of an Aston Martin.” [source: Daimler]

If you liked the article, share on:

Comments

Recommended

A few months ago, Mercedes-Benz promised that they will be treating everyone to a “big surprise” during the Monterey Car Week. And true enough, many of us were stunned as...
by - August 19, 2017
McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries