iOS app Android app More

Daimler, Aston Martin in engine development deal

stumbleupon: Daimler, Aston Martin in engine development deal   digg: US Works With Sudan Government Suspected Of Aiding Genocide   reddit: Daimler, Aston Martin in engine development deal   del.icio.us: Daimler, Aston Martin in engine development deal

December 19, 2013 07:46 AM EST | AP


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.