Daimler and Britain’s Aston Martin sign engine development deal, Daimler to get stake

The Associated Press 0

BERLIN – Daimler AG and British sports car maker Aston Martin Lagonda Ltd have signed a deal that will see the two companies develop engines together and the German company get a stake in Aston Martin.

The companies said Thursday that Aston Martin and Daimler subsidiary Mercedes-AMG will develop V8 engines for a new generation of Aston Martin cars.

Daimler will get a nonvoting stake of up to 5 per cent in Aston Martin in several steps as the two companies’ partnership progresses. It will receive observer status on the Aston Martin board.

The companies say they’re working to conclude a further agreement on supplying electronic components and will look into other areas where they can co-operate.

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