Mercedes-Benz parent company Daimler will increase its stake in Aston Martin and supply the British sports car maker with electric and electronic parts in a deepening of the partnership formed last year.
Bloomberg reports Daimler will receive another one per cent stake in the business, increasing its share of Aston Martin to five per cent.
The deal, which was signed on July 31, is part of a broader technical partnership announced in July 2013 that involves Mercedes-AMG building and supplying V8 engines to Aston Martin for its future sports cars.
Aston Martins featuring Mercedes-Benz components are not expected to surface for another few years, while the sports cars will continue to be built at the company’s headquarters in Gaydon, England.
Reports in March suggested the duo might deepen their relationship even further, claiming that Aston Martin may use the platform from the next-generation Mercedes-Benz SLK and SL models for its sports cars, and potentially build an SUV on the platform of the next-gen GL.
Daimler chairman and head of Mercedes-Benz Cars Dr Dieter Zetsche sparked rumours that the German car maker was considering purchasing Aston Martin in March when he refused to rule out the possibility of such a move in an interview with European media.