By LAWRENCE TAN

In August, we brought you news of a potential collaboration between Mercedes-Benz and Aston Martin to share engines, hybrids, transmission and platforms.

Car Magazine on Wednesday reported that talks between both parties are now at an advanced stage in a possible €300 million deal branded Romeo and Juliet, a name change from the previously known Project Alligator, and significant details have emerged.

For phase one of this tie-up, Aston Martin benefits from having access to Mercedes’ engineering R&D, specifically, its powerplants and transmissions.

This could mean the DB9 and future Aston models like the 2010 Rapide would house Mercedes’ twin-turbo V12 and seven-speed transmission, with the idea of possible hybrid Aston models being mooted.

Along with Aston’s own plans to re-launch the Lagonda brand in 2012, it will also be tasked with reviving Mercedes’ under-performing ultra-luxury Maybach limousines. This takes us to phase two of the deal.

The designers from Gaydon will work to revamp the Maybach 57 and 62, inside and out, and depending on the response and success of the Aston makeover, may herald new Aston-designed Maybach models in future.

On that note, the first of four models lined up for the Lagonda brand re-launch may well be a sportier version of a Maybach saloon albeit in Lagonda badging.

A Lagonda SUV based on the Mercedes GL is in the works, along with a four-seater coupe and droptop, built on Mercedes’ CL platform. All four Lagonda models would sport Mercedes engines and drivetrains.

Watch this space as we continue to bring you more ‘adventures’ of Romeo and Juliet as and when additional details emerge of this potentially massive partnership.

via Car Magazine