News - Aston Martin
AMG revs up Aston Martin tie-in
Mercedes- Benz’s performance arm formalises agreement with Aston Martin
20 Dec 2013
By BARRY PARK
AFTER five years of talking about it, Mercedes-Benz’s AMG performance arm has finally signed a deal with sportscar-maker Aston Martin to share engines and technology.
The agreement, formalised overnight after it was first flagged back in 2008, will see AMG grab a slice of the 100-year-old British sportscar marque, and will give the loss-making Aston access to more advanced V8 powertrains and expensive-to-develop, cutting-edge electronics.
Aston Martin currently sources its V8 and V10 engines from its former owner, Ford.
In a statement released overnight, Aston Martin said Mercedes-Benz AMG’s parent company, Daimler, would receive up to five per cent of non-voting shares in Aston Martin in several transactions as the technical partnership rolled out, joining a group of investors that includes Italian equity firm Investindustrial, a former owner of Italian motorcycle maker Ducati.
The company would also get observer status on Aston Martin’s board. Importantly, Aston Martin confirmed it would continue to make cars in Britain despite the tie-in with Germany.
Tellingly, though, Aston Martin said the two car-makers would also collaborate on “additional areas of cooperation” outside the penned agreement.
“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,” Aston Martin said.
“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.” Mercedes-AMG management board chairman Tobias Moers said the German car-maker was proud to work with Aston Martin.
“This agreement is a real win-win situation for both sides,” he said.
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