Chinese automaker Geely buys 7,6% stake in Aston Martin Lagonda

Image: Aston Martin

After their withdrawal from the local market, Geely has seemingly become anonymous but the Chinese automaker has quietly been growing into a powerhouse. Their latest endeavour is purchasing a 7,6 % stake in Aston Martin Lagonda. 

Chinese automaker Geely buys 7,6% stake in Aston Martin Lagonda

Image: Aston Martin

Last month, Proton hosted the automotive press to usher in their second attempt at the South African automotive market. The Malaysian marque is owned by Geely, who has quietly been acquiring stakes in storied automotive brands for the past two decades, including Proton. 

Geely existed in South Africa to little success over a decade ago, with uninspiring but affordable products on offer. The Chinese automaker eventually withdrew from our market and since then has increased their shareholding portfolio with brands like Volvo, Lotus, Polestar, London Electric Vehicle Company (LEVC), as well as Lynk & Co, Zeekr, and Geometry. In addition to this, Geely founder and chairman Li Shufu acquired an equity interest of 9,7% in the Mercedes-Benz Group through Tenaciou3 Prospect Investment Limited.

It is no doubt then that the Geely we remember and the Geely of the current day are two vastly different players in the automotive spectrum. As such, the Chinese automaker attempted an equity investment in Aston Martin Lagonda earlier this year however the original offer was rejected, with the British brand stating there was not an “attractive funding option or value creation opportunity for existing shareholders.” 

Interestingly enough, Aston Martin Lagonda mentioned that “there is no basis for further discussion,” but since then Geely has issued a press release stating they had come to an agreement which sees the privately-owned Chinese automaker acquire a 7,6% stake in the century-old British marque. 

This now means that the Gaydon-based brand is owned by a consortium led by Lawrence Stroll with 18,3%, Saudi Arabia’s Public Investment Fund has a 16,7% stake while Mercedes own a 9,7% chunk of the business. 

This move could be strategic in the future of electrification for the Aston Martin Lagonda group since Geely boast an impressive arsenal of pure EV brands.

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