Geely Holding announced today it has acquired a 7.6 percent stake in Aston Martin, associating yet another automaker with its wide brand portfolio.
In the official announcement, Daniel Donghui Li, Geely Holding Group CEO, said: “We are delighted to announce our investment in Aston Martin and believe that with our well-established track record and technology offerings, Geely Holding can contribute to Aston Martin’s future success. We look forward to exploring potential opportunities to engage and collaborate with Aston Martin as it continues to execute its strategy to achieve long-term, sustainable growth, and increased profitability”.
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Geely, China’s largest privately-owned automotive technology group, is the owner of Volvo, Polestar, Lynk&Co, Zeekr, Lotus, and LEVC. It also has a 50 percent stake at Smart, and a 9.69 percent stake in Daimler. This is not the first time the Chinese company expressed interest in Aston Martin; back in 2020 there were reports about a possible deal, before Lawrence Stroll took charge with a massive investment in the firm.
Geely’s 7.6 percent stake in Aston Martin Lagonda could provide the British firm with access to the former’s parts bin for future models. Furthermore, it will help Aston Martin secure its future, following the recent investment by the Saudi Public Investment Fund (PIF) announced in July. Note that Geely’s share is smaller than the stakes owned by chairman Lawrence Stroll (18.3 percent), PIF (16.7 percent), and Daimler (9.7 percent).
