Who are we dealing with?, page-2

Aston Martin has joined the club
26 May 2023
Why don't we just deal with the Chinese? We are anyway.

In recent days, Geely – the parent company of brands including Volvo, Lotus, Polestar, and Smart – announced it has increased its stake in British supercar company Aston Martin.Geely – China's largest privately-owned automotive group – now owns a 17 per cent stake in Aston Martin, making it the third-largest shareholder of the company. The news comes less than a year after Geely first invested in Aston Martin, with its original 7.6 per cent stake being announced in September 2022.
Along with acting as parent company for more than a dozen automotive brands, Geely is also one of the largest single shareholders in the Mercedes-Benz Group through its founder Li Shufu.

"Our decision to increase our shareholding in Aston Martin reflects our confidence in the company’s growth prospects, its technologies and its management team," Geely Chairman Eric Li said in a media statement.

Since first acquiring our minority holding last September, we have worked collaboratively with executive chairman Lawrence Stroll and his colleagues and now look forward to exploring joint technology synergies and new growth opportunities to help this iconic automotive brand to achieve its full potential."