Chinese giant Geely buys 7.6% of Aston Martin
Earlier this year, Aston Martin had rejected an offer from the Chinese giant Geely to invest in the business. At the time of the offer, the legendary British manufacturer judged that this offer was not attractive enough to finance the company or to improve its stock market value. It looks like Aston Martin has recently changed its mind, because it’s official: Geely has just bought 7.6% of the company.
It is not yet clear how much Geely would have paid for the acquisition, but in its press release, the private Chinese technology company, which orbits around businessman Li Shufu, announced that an agreement has finally taken place. with the builder of Gaydon.
The 109-year-old Aston Martin therefore joins Volvo, Polestar, Lotus, Proton, London Electric Vehicle Company (LEVC), Lynk & Co, Zeekr and Geometry under the big umbrella of Geely. If the Asian giant holds 7.6% of the manufacturer, the rest of Aston Martin remains the property of the Public Investment Fund of Saudi Arabia (16.7%), Yew Tree, of the consortium led by Lawrence Stroll (18 .3%) and Mercedes-Benz (9.7%).
The Geely-Aston Martin alliance could have some nice surprises in store for us, particularly in terms of electrification where the company currently has good expertise and suitable assembly plants installed in China.
In 2024, Aston Martin plans to market the Valhalla, a plug-in hybrid supercar. Following this announcement, however, we could see an all-electric model appear at Aston in the very near future. To be continued.
