Geely has added another feather to its cap, after the company took a minority stake in the iconic British sports car brand Aston Martin.
China’s Geely is now a minority owner of Aston Martin.
In recent days Geely announced it has acquired a 7.6 per cent stake in Aston Martin, making it the fourth largest shareholder of the British sports car company.
The Chinese auto giant owns a number of car companies including Volvo, Polestar, Lotus, and Smart, as well as being one of the largest single shareholders in Mercedes-Benz Group through its founder Li Shufu.
“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,” Geely Holding Group CEO Daniel Donghui Li said in a statement.
“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.”
In July 2022, a restructure of Aston Martin raised $1.1 billion for the carmaker, and gave the Public Investment Fund of Saudi Arabia a 16.7 per cent stake in the company – just behind Lawrence Stroll’s Yew Tree Consortium with 18.3 per cent, and behind Mercedes-Benz Group’s 9.7 per cent.
The post Chinese automotive giant acquires stake in Aston Martin appeared first on Drive.
0 Response to "Chinese automotive giant acquires stake in Aston Martin"
Post a Comment