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Daimler, Aston Martin in engine development deal

Thursday - 12/19/2013, 10:50am  ET

BERLIN (AP) -- 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 percent 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 cooperate.


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