Zhejiang Geely Holding Group has announced that it has acquired a 7.6% stake in British carmaker Aston Martin. In a statement, Geely Holding Group CEO Daniel Donghui Li said that Geely’s well-established track record and technology offerings would be able to contribute to Aston Martin’s future success.
“We are delighted to announce our investment in Aston Martin, and look forward to exploring potential opportunities to engage and collaborate with the brand as it continues to execute its strategy to achieve long term, sustainable growth and increased profitability,” he said.
Geely’s inclusion as a shareholder in Aston Martin Lagonda comes three months after Saudi Arabia’s Public Investment Fund (PIF) took a 16.7% stake in the automaker, which has been beset with high debt in recent times. The investment by PIF has made the sovereign wealth fund the second-largest shareholder in the company after Lawrence Stroll’s Yew Tree Consortium, which holds an 18.3% stake.
Another significant shareholder is Mercedes-Benz, which presently has a 9.7% stake in Aston Martin after the capital increase made in July. It was not disclosed how much representation Geely will have in terms of board seats.
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Habesla Britain dah jual to China! Oh wait, Jag & LR dah jual to India, Mini dah jual to Jerman, MG dah jual to China, Lotus & Caterham dah jual to Mesia.
Habesla Britain no longer British, even their Finance Minister is an incompetent MP from Africa origin!
Geely spreading its wings, and yet their own cars are not in significant markets yet. Wonder why?
Western bias of china. Look at how USA clamp down on huawei telco gear and phones just when that brand is gaining popularity. So rather than repeat the same mistake, Geely is smartly diversifying their cobrands to cater for regional markets and segmentations, that way it would not irk the ire of western imperialists.
U mean western companies can freely do anything they want in China such as buy Chinese companies? Imperialised, seriously In Todays world ? If it is one needs to look at how china operates. Mandatory local JV, forced tech transfer and no IP protections. Yet Chinese companies can Enjoy the same freedom as their competitors in the west. If only it was reciprocal then I doubt there would be an issue baring political goals. No doubt Geely is being strategic and good for them in expanding their wings in a free market with level playing field.
Ur idea of mandatory JV is outdated, this no longer applies ever since Tesla came setup Shanghai Gigafactory. More and more Western companies are setting up fully owned entities in China today and moving on. How ironic to talk about same freedom, does our palm oil gets the same freedom in EU as their own produced sunflower oils?
No one put a knife on your Western companies’s neck to invest in China. Malaysia did the same with Proton too. If not how to improve? Duh…
Thats how a layman looked at it.
If lets say Geely buys GM but continue to sell GM product in US, people are actually buying Geely product.
Why spend more to do trial and error at certain market when u can acquire an existing brand and ‘make it your own’.Its a smart business strategy.
Who know, in another 10 years there will be less than 5 major player in automotive industry. The rest are just subsidiaries…oh wait, has that alreadt happen?
Habisla ketuanan British.
120 years ago Britain came to China and conquered them through force.
Now 120 years later, China came to Britain and conquered them through economics.
How ironic.
China would be soooo much better under British rules
Like how India & Pakistan is today? Or Afghanistan? How about Palestine?
Daddy stroll likes