Geely Holding recently announced that it had acquired a 7.6 percent stake in Aston Martin. In an official announcement, Daniel Donghui Li, CEO of Geely Holding Group, said he was pleased to announce Geely’s investment in Aston Martin and believes that with its track record and established technology offering, Geely Holding can contribute to Aston Martin’s future success.
“We look forward to exploring potential opportunities to engage and collaborate with Aston Martin while continuing to pursue its strategy to achieve long-term, sustainable growth and increased profitability.”
Geely, China’s largest privately owned automotive technology group, is the owner of Volvo, Polestar, Lynk&Co, Zeekr, Lotus and LEVC. He also owns a 50 percent stake in Smart, and a 9.69 percent stake in Daimler. This is not the first time the Chinese manufacturer has expressed interest in Aston Martin, in 2020 there were reports of a possible deal, before Lawrence Stroll took over a massive investment in the British manufacturer.
Geely’s 7.6 percent stake in Aston Martin could give the British company access to future models. Additionally, it will help Aston Martin secure its future, following a recent investment by the Saudi Public Investment Fund (PIF) announced in July. It should be noted that Geely’s shares are smaller than the shares owned by chairman Lawrence Stroll (18.3 percent), PIF (16.7 percent), and Daimler (9.7 percent).