Chinese automaker Geely has recently announced that it now has a 7.6 percent stake in Aston Martin. This announcement means that Geely is adding yet another European luxury automaker to its strong portfolio–some of which include its fully-owned brands such as Volvo, Polestar, Lynk & Co, and Lotus.
Aston Martin’s financial status has seen a constant rise and fall throughout its history. It even underwent numerous owners, with Ford Motor Company being its most notable former owner. Geely’s investment in Aston Martin could provide the brand access to the Chinese automaker’s huge resources and technological prowess, especially in the field of electrification. It must be noted that Geely isn’t the majority shareholder of Aston Martin, though it still makes them one of the largest investors. The biggest shareholders of Aston Martin include its chairman Lawrence Stroll (18.3 percent), Saudi Public Investment Fund (16.7 percent), and Daimler (9.7 percent).
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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