Chinese automotive giant acquires stake in 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 public-traded 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.