Daimler, Aston Martin to Partner on Luxury SUV?

Daimler AG and Aston Martin Lagonda Ltd. may co-develop a luxury SUV/crossover platform by 2017 to be used by both companies, according to Bloomberg News, which cites unidentified sources.

The plan would help Aston Martin best known for the DB5 luxury sport coupe featured in James Bond adventure movies get into the fast-growing market for ultra-luxury SUVs.

One of Bloomberg's sources says the talks are preliminary, adding that Aston Martin is still pondering whether to develop a crossover on its own. Another source says no decision is likely until the British company finds a new CEO to succeed Ulrich Bez, who retired at the end of last year.

Last December Daimler acquired 4% of Aston Martin in exchange for supplying the British company with high-performance engines from its AMG performance unit. Daimler is expected to boost its stake to 5% as the partnership expanded into electronics and other components.