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Geely Holding introduced as we speak it has acquired a 7.6 p.c stake in Aston Martin, associating one more automaker with its broad model portfolio.
Within the official announcement, Daniel Donghui Li, Geely Holding Group CEO, mentioned: “We’re delighted to announce our funding in Aston Martin and consider that with our well-established observe document and know-how choices, Geely Holding can contribute to Aston Martin’s future success. We sit up for exploring potential alternatives to interact and collaborate with Aston Martin because it continues to execute its technique to attain long-term, sustainable progress, and elevated profitability”.
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Geely, China’s largest privately-owned automotive know-how group, is the proprietor of Volvo, Polestar, Lynk&Co, Zeekr, Lotus, and LEVC. It additionally has a 50 p.c stake at Good, and a 9.69 p.c stake in Daimler. This isn’t the primary time the Chinese language firm expressed curiosity in Aston Martin; again in 2020 there have been experiences a few potential deal, earlier than Lawrence Stroll took cost with an enormous funding within the agency.
Geely’s 7.6 p.c stake in Aston Martin Lagonda might present the British agency with entry to the previous’s elements bin for future fashions. Moreover, it can assist Aston Martin safe its future, following the latest funding by the Saudi Public Funding Fund (PIF) introduced in July. Observe that Geely’s share is smaller than the stakes owned by chairman Lawrence Stroll (18.3 p.c), PIF (16.7 p.c), and Daimler (9.7 p.c).
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