Daimler AG and Aston Martin Lagonda Ltd. have locked down the alliance they announced earlier this year, a move that will see the new partners work together on the development of new V-8 engines for future Aston products.
As part of the deal, the German maker will take a 5% non-voting stake in the British brand. The new partners also suggested that they are exploring further opportunities, including the supply of electronic components.
The alliance could be particularly crucial for Aston, the supercar maker best known for its ties to film spy James Bond struggling to keep up with increasingly difficult global fuel economy and emissions standards since it was spin off from former owner Ford Motor Co. a few years back. (more…)