Daimler at 5% of Aston Martin providing electric parts
Hendrik Sackmann, a spokesman for the Stuttgart, Germany-based company, announced that Daimler will provide Aston Martin with electric and electronic parts to deepen an alliance that started last year.
In return, Daimler will receive another 1% stake in Aston Martin, lifting its holding to a total 5%, (without voting rights).
The component deal signed in recent days is part of a larger agreement that also involves Mercedes-Benz’s AMG Performance Unit to adapt V8 engines to install in future Aston Martin vehicles.
Daimler and Aston Martin are also in talks on using Mercedes technology to develop a sports utility vehicle that Aston Martin would start selling by 2017.
Aston Martin’s shareholders are the Investindustrial fund, managed by the Bonomi family and also include Kuwaiti companies Investment Dar Co. and Adeem Investment Co., which bought the UK car maker in 2007 from Ford Motor Co.