Aston Martin has recently confirmed that it has signed a technical partnership with Mercedes, so that it can develop a brand new generation of models, featuring powerful V8 engines.
As part of the deal, Mercedes owner Daimler is taking a stake of up to 5% in Aston Martin
As part of this deal, Daimler, who own Mercedes are taking a stake of up to 5% in Aston Martin, who make the Vanquish and DB9 sought after sports cars.
This investment will help the Aston Martin company to be able to compete better with United Kingdom luxury car manufacturer Jaguar Land Rover and Volkswagen’s Bentley. Jaguar Land Rover was purchased by Tata Motors in 2008 and since then has achieved excellent sales growth, especially in China.
There was no value for this deal provided, though Aston Martin and Mercedes have both said that a supply agreement between them both was a truly essential element of this particular arrangement.
Ian Minards, who is Aston Martin’s product development director explained that this deal will see Aston Martin access significant resources from Mercedes-AMG GmbH and Mercedes-Benz Cars. He went on to say that this will allow the V8 powertrains to be developed with the use of certain components of electronic and electric architecture.
Aston Martin, which is well known for being favoured by the Prince of Wales and James Bond, sold 2,340 cars in the nine months leading to September 30th 2012, which was down by 19% on the previous year.
Investindustrial, which is an Italian private equity group bought a 37.5% stake in the company last year, for £157m via a capital increase which was agreed with Investment Dar, the majority owner.
Aston Martin has said that this deal would enable the company to invest in a technology programme to 2018 and in new products.
Mercedes owner Daimler have said the agreements will be signed later in the year
Daimler have said that agreements regarding the new partnership will be signed at the second hald of the year.
Earlier in the week, Volkswagen owned Bentley announced it’s plan to produce the World’s most powerful and luxurious 4×4 vehicle in 2016.
The luxury, high end car sector continues to see a growth that is above other areas.