FRANKFURT Dec 19 Daimler will take a
5 percent non-voting stake in luxury sports car maker Aston
Martin, the Financial Times reported on Thursday, completing a
deal between the German and British car makers that was
announced in July.
Daimler declined to comment on Thursday.
Under the deal, Aston Martin will to team up with Daimler's
high-performance Mercedes-AMG GmbH division to develop a new
generation of bespoke V8 engines for the 100-year-old British
The deal will help Aston Martin, the only global luxury
carmaker not attached to a larger manufacturer, spread the cost
of developing new vehicles.
Aston has struggled to fund the development of a range of
new vehicles while rivals like Bentley, which is owned by
Volkswagen, and Rolls Royce, which is owned by BMW
have the ability to draw on the resources of their
In July, Daimler said its Mercedes-AMG company will supply
engines to Aston Martin, and its Mercedes-Benz unit will supply
Aston Martin has struggled for growth since the economic
downturn in 2008 and reported a 9 percent fall in 2012 profit.
It sold around 3,800 cars that year - around 10 percent fewer
cars than the previous year.