After Mercedes, Geely buys 7.6 percent stake in Aston Martin

Shaun · Sep 30, 2022 04:04 PM

After Mercedes, Geely buys 7.6 percent stake in Aston Martin 01

Zhejiang Geely Holding Group (Geely Holding) has announced that it has acquired a shareholding in Aston Martin Lagonda Global Holdings (Aston Martin), representing 7.6 percent of the ordinary share capital of the ultra-luxury British performance brand.

The amount of which Geely paid to acquire 7.6 percent share was not disclosed. Currently, Mercedes-Benz has 9.7 percent stake in Aston Martin and Mercedes still provides V8 engines to Aston Martin. Geely's Li Shufu owns nearly 10 percent stake in Mercedes-Benz, which one of its largest shareholders.

After Mercedes, Geely buys 7.6 percent stake in Aston Martin 02

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.

After Mercedes, Geely buys 7.6 percent stake in Aston Martin 01

Provided by Mercedes

“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.”

Also read: Aston Martin DBX707 makes ASEAN debut in Malaysia - From RM 1 mil, 707 PS/900 Nm

Shaun

Writer

The quest for automotive knowledge began as soon as the earliest memories. Various sources information, even questionable ones, have been explored including video games, television, magazines, or even internet forums. Still stuck in that rabbit hole.

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