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Thursday, December 1, 2022

Chinese firm Geely buys 7.6% stake in Aston Martin Lagonda

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One of China’s biggest independent car makers has bought a 7.6% stake in British luxury brand Aston Martin Lagonda and said it looks forward to potential opportunities to collaborate.

Geely Holding Group declined to give details, but Aston Martin Lagonda announced on Friday that it had raised £654 million from investors including Geely and the Saudi government to pay down debt and “accelerate its long-term growth”.

Geely owns the Geely Auto, Lynk & Co and Geometry brands, Volvo Cars and electric vehicle brand Polestar of Sweden, Britain’s Lotus and 9.7% of Mercedes parent Daimler AG.

“We look forward to exploring potential opportunities to engage and collaborate with Aston Martin,” Geely chief executive Daniel Donghui Li said in a statement.

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