Aston Martin & Daimler finalize their engine deal, will explore future areas of cooperation

Aston Martin and Daimler have officially joined hands by signing a series of definitive agreements recently.

Under the term of the agreement, Aston Martin and AMG will develop a bespoke V8 engine that would combine high performance with fuel efficiency. This engine will be used in the next generation of models that will incorporate cutting edge technology. On the other hand, Daimler will receive up to a five percent stake in Aston Martin. The company will not have any voting rights but will receive observer status on the Aston Martin Holdings board.

The companies are also working on a deal to share electrical components but the agreement is yet to be finalized. In a statement released, an Aston Martin spokesperson said that this strategic collaboration for Aston Martin will, in their next generation of luxury sports cars, offer their customers increased performance and efficiency whilst retaining the unique character and style of an Aston Martin.

Aston Martin’s sentiments were further echoed by AMG Chairman Tobias Moers as he said that by signing the Umbrella Agreement and the Engine Agreement both parties have agreed to this technical partnership wherein Mercedes-AMG will provide the British icon Aston Martin with engines for their forthcoming sports cars.