December 20, 2013: Daimler AG is to take a 5 percent non-voting stake in luxury sportscar manufacturer Aston Martin.
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 sportscars at its Gaydon headquarters in Warwickshire, England.
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.”
The deal with Daimler is expected to help Aston Martin which has, in the recent past, been faced with stiff competition from the luxury Bentley and Porsche marques from the Volkswagen Group and the resurgence of the Tata Motors-owned Jaguar Land Rover.
Photograph: At Mercedes-AMG, each engine is traditionally set up by hand, in keeping with the ‘one man, one engine’ philosophy. This means that a technician is responsible for the assembly of a complete engine.
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