Mercedes earns Aston Martin stake

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IOL mot dec19 Aston

Frankfurt - Daimler said it will receive up to a 5 percent stake in Aston Martin in exchange for supplying engines and electronic components to the 100-year-old British marque.

Aston Martin will team up with Merc’s AMG division to develop a new generation of bespoke V8 engines for its sports cars.

The deal will help Aston Martin, the only global luxury carmaker not attached to a larger manufacturer, spread the cost of developing new fuel-efficient vehicles.

Daimler will receive non-voting shares in Aston Martin, owned by Kuwaiti and private equity investors, in several steps as the technical partnership progresses.

The two car makers also plan to cooperate on the supply of electronic and electric components.

Daimler will get observer status on the Aston Martin Holdings board as part of the deal. -Reuters


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