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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.

Aston Martin sues dealer over $3.5 million Valkyrie supercar

Aston Martin Lagonda Global Holdings said it’s suing a company affiliated with one of its dealers in Switzerland, alleging that it withheld customer deposits collected for the $3.5 million Valkyrie supercar. The automaker accused Nebula Project AG of failing to pass some deposits taken from customers along to Aston Martin and said it has terminated an unconventional commercial arrangement its previous management team entered in 2016. Under the now-dissolved deal, Nebula had agreed to fund development of the Valkyrie and other mid-engine cars in exchange for royalty payments. As a result of terminating the agreement with Nebula, Aston Martin is no longer liable for any potential royalty payments, which could have been “significant” over time, the carmaker said in a statement Tuesday. The company also cut off its dealer arrangements with AF Cars AG, the company that operates Aston Martin St. Gallen in Switzerland, whose board members manage Nebula. A spokeswoman for the cantonal prosecutorÂ’s office in St. Gallen said they are expecting a lawsuit to be filed but hadnÂ’t received it as of noon Tuesday. A spokesman for Aston Martin St. Gallen was not immediately available to comment, according to a receptionist. The canton of St. Gallen in eastern Switzerland is home to just 510,000 people but generates gross domestic product of almost 39 billion Swiss francs ($42 billion), making it a natural fit for wealthy fans of supercars. The Valkyrie, which Aston Martin expects to start shipping in the second half of the year, is intended to compete with mid-engine models made by the likes of Ferrari and McLaren. While Aston Martin believes the net impact of its actions against Nebula will be positive over time, itÂ’s expected to reduce cash flow and earnings before interest, taxes, depreciation and amortization by as much as 15 million pounds this year. The automakerÂ’s shares traded down 1.9% as of 11:50 a.m. in London, paring an earlier decline of as much as 4.9%. Valkyrie customers will still receive their cars as scheduled, Aston Martin said, despite the company not having received all the deposited funds. The company said it will take deposits for special vehicles directly from customers going forward instead of through dealers. Aston Martin racked up significant losses after going public in 2018 and has spent the last year restructuring itself after a rescue by Canadian billionaire Lawrence Stroll, who took over as chairman.

Here's what Top Gear thinks of the Aston Martin Vulcan

With a limited run of just 24 units, the Aston Martin Vulcan isn't an easy vehicle to get your hands on. Even if you find one, the next challenge is locating a suitable track to drive it because these rare beasts aren't street legal. Top Gear (the website, not the TV show) arranged both and reported on the amazing experience of driving this rare hypercar in must-read story. Top Gear lapped the Vulcan around the Abu Dhabi Grand Prix circuit and came away thoroughly impressed. The author admits that the McLaren P1 GTR has a greater output, but driving the Aston Martin is still an incredibly visceral experience. Downshifts judder through the chassis, flames shoot from the side pipes, and the 820-horsepower V12 screams. "Five laps and I'm spent – I start to get a headache, I need to drink, sweat gathers, ears ring," the writer says. The Vulcan trains its handful of wealthy owners to be racers, but the interior still cossets them in Aston Martin's traditional luxury. As they learn the car, drivers can turn the power up from 550 hp, 675 hp, and to the full 820 hp when they feel ready. The suspension is also fully adjustable. So there's a touch of understeer out of the box, but a person can mitigate that as they gain experience. Plus, the writer claims the cabin fit and finish is marvelous. Head over to Top Gear to get the full story, it's well worth a read. Related Video: