Under the deal, Aston will be supplied with V8 engines and powertrain technology for its future models. Meanwhile Daimler will receive up to 5% equity in Aston Martin.

Ola Källenius, head of Mercedes-AMG GmbH, commented: ‘We are proud to work with Aston Martin and provide them with powertrain and e/e [electric/ electronic] components for their forthcoming sports cars. This is proof of AMG’s technological and performance expertise and a real win-win situation for both sides.’

Aston Martin product development director Ian Minards said: ‘We have selected AMG specifically as the basis for this powertrain development process. Aston Martin sources cutting-edge technology from key suppliers around the globe and the opportunity to include content from Mercedes-AMG GmbH in our next generation sports cars is, clearly, good news.’