Chinese Geely Becomes Third Largest Shareholder of Aston Martin with £234 million Investment: SoloMotori

The Chinese Geely group, which already controls Volvo Car, is preparing to become the third largest shareholder of Aston Martin. The operation involves an investment of approximately 234 million pounds (270 million euros)

New shareholding maneuvers involve Aston Martin. After Yew Tree e Public Investment Fund of Saudi Arabia, the Chinese giant Geely Automobile is about to become third majority shareholder from the British sports car manufacturer. With this new operation the Chinese Geely she came to hold approx il 17% of Aston Martinafter purchasing the 7,6% in September 2022.

The operation will unlock £95 million ($118 million), in the form of cash consideration for the new share issue. This operation has allowed Aston Martin Of reduce your debtalso the shares got yesterday a 25% increase on the market.

The English house is in a very dynamic phase of its history: in addition to the renewed commitment in Formula 1which this year is bearing excellent fruit, is now imminent total renewal of the range. After Suv DBX in fact, the heir of the DB11while by the end of the year we will see the mid-engined two-seater Valhalla.

The investment in Aston Martin consolidates the Geely presence in Europewhere it already checks Volvo Car and has recently increased its stake in French Renault.

Joint growth

“Geely Holding, which initially became a shareholder last year, sees huge potential for Aston Martin’s long-term growth and success – he has declared Lawrence Stroll, owner of Aston Martin – Their new investment allows us to understand more deeply the importance of growing a key strategic market which is China, but also gives us the opportunity to access their range of components and technologies“.

“Geely espouses our view on Aston Martin and wants to be a bigger shareholder. This transaction creates a long-term partnership with Geely, a relationship that I believe will deliver significant value for all of our shareholders.“. Emphasizing access to Geely technologies and components offers further insight into the future development of the brandwhich in recent years had announced the strengthening oftechnical agreement with Mercedes to access theelectrical architecture in view of future electric models.

A plan, that of technical synergies and technological, clearly highlighted by Eric Li, president of the Geely Group: “We look forward to exploring joint technology synergies and new growth opportunities to help this iconic automotive brand realize its full potential.”.