Chinese automotive giant increases ownership in Aston Martin

1 week ago 7

The genitor institution of Volvo, Lotus, and Polestar has accrued its involvement successful Aston Martin, arsenic the British supercar marque looks to summation its beingness successful China.

Ben Zachariah
Chinese automotive elephantine  increases ownership successful  Aston Martin

In caller days, Geely – the genitor institution of brands including Volvo, Lotus, Polestar, and Smart – announced it has accrued its involvement successful British supercar institution Aston Martin.

Geely – China's largest privately-owned automotive radical – present owns a 17 per cent involvement successful Aston Martin, making it the third-largest shareholder of the company.

The quality comes little than a twelvemonth aft Geely archetypal invested successful Aston Martin, with its archetypal 7.6 per cent involvement being announced successful September 2022.

Along with acting arsenic genitor institution for much than a twelve automotive brands, Geely is besides 1 of the largest azygous shareholders successful the Mercedes-Benz Group done its laminitis Li Shufu.

"Our determination to summation our shareholding successful Aston Martin reflects our assurance successful the company’s maturation prospects, its technologies and its absorption team," Geely Chairman Eric Li said successful a media statement.

"Since archetypal acquiring our number holding past September, we person worked collaboratively with enforcement president Lawrence Stroll and his colleagues and present look guardant to exploring associated exertion synergies and caller maturation opportunities to assistance this iconic automotive marque to execute its afloat potential."

While Lawrence Stroll's Yew Tree Corporation is believed to stay the largest shareholder, it's believed Geely is the third-largest shareholder down the Saudi Arabia Investment Fund.

"Geely tin connection america a heavy knowing of the cardinal strategical maturation marketplace of China arsenic good arsenic the accidental to entree their scope of technologies," Aston Martin Chairman Lawrence Stroll said successful a media statement.

Meanwhile, Ferrari's largest azygous shareholder is Exor – the holding institution of Italy's Agnelli household – which owns 24 per cent, portion besides owning a 14.4 per cent stock successful Stellantis, the genitor institution of Alfa Romeo, Fiat, Chrysler, Dodge, Ram, and others. Piero Ferrari, lad of Enzo Ferrari, retains a 10.2 per cent involvement successful Ferrari.

Lamborghini is owned by the Volkswagen Group done its subsidiary, Audi.

Ben Zachariah

Ben Zachariah is an experienced writer and motoring writer from Melbourne, having worked successful the automotive manufacture for much than 15 years. Ben was antecedently an interstate motortruck operator and completed his MBA successful Finance successful aboriginal 2021. He is considered an adept successful the country of classical car investment.

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