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British sports car maker Aston Martin and German luxury brand Daimler AG have confirmed a technology partnership. Aston Martin will receive bespoke V8 powertrains as well as access to electronic components. In return, the Stuttgart based firm will receive up to five per cent of non-voting shares and observer status on the UK company's holdings board.

A joint statement from the two firms said: “The parties are working to conclude the terms of an additional cooperation for the supply of electric/electronic (E/E) components.

“Furthermore, the two groups will investigate additional areas of cooperation in the future. Aston Martin will continue to manufacture all of its sports cars at its Gaydon headquarters in Warwickshire, England.”

Gaining access to Mercedes-Benz engines and components will help Aston Martin develop its next generation of sports cars.

But it may also help it develop an SUV. While both companies denied the partnership would move in such a direction, observers will remember comments made by Ulrich Bez, Aston Martin's CEO, last October: "I wish it was here today. I think it's important."

Aston Martin has been mulling the idea of an SUV for some time. In 2009's Geneva Motor Show the firm revealed a Lagonda concept SUV based on the Mercedes-Benz GL. The Lagonda brand has been dormant for some years.

If the UK sportscar manufacturer is to succeed in the profitable world of SUVs without building a roadside-assistance-attracting-flop, it will need the technical knowhow of a firm like Daimler AG – or a great deal of development money.

Aston Martin did not reveal any details about future products that will use Mercedes Benz parts, but did repeat the intention of the company to remain a small-volume manufacturer, both to add to its products’ exclusivity, and to sidestep the emissions restrictions imposed on large-scale car makers’ models.