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Aston Martin signs Letter of Intent for technical partnership with AMG

A little over two months ago came reports that Daimler and Aston Martin were in talks, again, about "supply and technical-cooperation agreements." The next step has been taken with Aston Martin announcing that it has signed a Letter of Intent that looks "towards a technical partnership" with Mercedes-AMG GmbH, and the two companies aiming to have definitive agreements done by year's end.
While it will get to use certain electric and electronic components from AMG, the true golden egg for the maker of the Vanquish will be the ability to develop a new line of "bespoke V8 powertrains" that will be fitted to "a new generation of models." In return for opening up the larder, Daimler will get a non-voting stake of up to five percent of Aston Martin.
Nothing else is being said about the tie-up for the moment, but there's a press release below with a few more details.

McLaren, Red Bull and Ferrari call for unfreezing F1 engines

Formula One is a hugely expensive sport. Not only do you have enormous salaries and logistical expenses, as you would in any other sport, but each team also spends huge sums developing their own chassis from the ground up – and so too do the participating automakers in developing the engines. One of the ways the series organizers mitigate those costs is by freezing development. So once the new crop of V6 turbo hybrid powertrains were developed, that was it. But now three of the of the sport's leading teams are calling on the FIA to unfreeze engine development. Their reason? Unfair advantage. There's little question that Mercedes did the best job of developing its "power unit" to meet the new regulations that took effect at the beginning of this past season. That's how the Mercedes team won all but three of the grands prix this season and finished with at least one car on the podium at every single race. It's also a big part of how the teams that bought their engines from Mercedes this season managed to consistently outperform the other non-works-supported teams. That clear advantage is why Red Bull, Ferrari and now McLaren are calling for engine development to be unfrozen. Their argument is that, under the current locked-down status quo, their engine suppliers (Renault, Ferrari and Honda, respectively) cannot possibly catch up. So unless the FIA and Formula One Management want the next few seasons to be the kind of absolute blow-outs that this past season was, these leading teams argue, the powers that be are going to have to make some changes. For its part, Mercedes naturally counters that unfreezing engine development would send costs spiraling out of control. But then of course it stands to lose the most by re-opening engine development. If those three teams, however, closely intertwined as they are with the three other engine suppliers participating in next year's championship, manage to solicit enough support from the other customer teams and bring the matter to a vote, Mercedes may very well find itself out-numbered. News Source: ESPNImage Credit: Patrick Baz/AFP/Getty Motorsports Ferrari McLaren Mercedes-Benz F1 engine

E.U. executive conditionally approves Daimler, BMW car-sharing deal

BRUSSELS — The European Union's competition authority said on Wednesday it had approved the plan of German luxury carmakers Daimler and BMW to combine their car-sharing businesses, subject to conditions. Under the deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold 50 percent stakes in a joint venture. They have offered concessions to address E.U. antitrust concerns over the deal they hope would let them better compete with U.S. rival Uber and China's Didi Chuxing. The European Commission has found the deal would raise competition concerns for free-floating car sharing services in Berlin, Cologne, Duesseldorf, Hamburg, Munich and Vienna. It said Daimler and BMW agreed to a remedy package in the six cities. "The commitments thus fully address the Commission's concerns as they will reduce the barriers to entry for competing free-floating car sharing providers," the Commission said in a statement. "Therefore the Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns. The Commission's decision is conditional upon full compliance with the commitments." Reporting by Gabriela Baczynska and Philip Blenkinsop. Related Video: