Daimler takes a stake in Aston Martin
Aston Martin, the 100-year-old company whose cars are a favourite of James Bond and the Royal Family, is to join forces with Mercedes' owner Daimler.
The companies yesterday announced a deal that will see Aston Martin, which is battling to stop falling sales, use high-performance engines from Daimler's Mercedes-AMG division on its next generation of sports cars. It will also be able to include Mercedes-Benz components as part of the tie-up. Germany's Daimler will take a stake of up to 5 per cent in Aston Martin.
The partnership – due to be finalised before the year end – was hailed as a major boost for Aston Martin, whose car shipments dropped about 10 per cent and profits slid 9 per cent in 2012. The tie-up will make Aston Martin models "a lot more competitive on the global sports car market", said Chas Hallett, editor-in-chief of What Car?. "They look modern but the engines are really falling behind now compared to rivals in terms of performance and environmental considerations," he added.
Ian Minards, the product development director at Aston Martin, said the deal "points to a very bright future for the company".
- 1 What happens to your body when you give up sugar?
- 2 Have sex with your iPad thanks to the new sex toy no-one asked for
- 3 Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
- 4 The 'sex selfie stick' lets you FaceTime the inside of a vagina
- 5 Why you're almost certainly more like your father than your mother
Mark Zuckerberg: Facebook CEO's one simple test for who to hire
Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
'A girl is more responsible for rape than a boy': The statement that shocked the world... except India
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Saudi Arabia executions now at 'unprecedented rate' after kingdom kills four more in two days
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
iJobs Money & Business
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...