Chinese automaker Geely has acquired a 7.6% stake in Aston Martin. This was reported on September 30 by the British magazine Autocar.
Most recently, Aston Martin said it had rejected a proposed £1.3bn investment package from the Atlas Consortium, a group led by Geely and Investindustrial. Now the situation has changed.
The amount of this transaction was not disclosed, however, based on the value of shares as of September 29, 2022, Geely’s share is estimated at approximately 66.3 million pounds (about 4,208,445,000.00 rubles.).
Experts noted that the Geely brand was considering buying a stake in the British company back in 2020, but Aston Martin then reported that it had rejected the offer from the Chinese side.
For the Geely holding, this cooperation will provide access to technologies, as well as developments that can potentially be used for the Lotus brand, another British company that is part of the portfolio of the Chinese concern.
On September 26, Geely showed a new generation of the Lynk & Co 03 sedan in China. The car was released on a platform developed by Geely and Volvo. The base sedan is available with a two-liter turbo engine with a capacity of 254 hp. With. The engine is familiar from the Geely Tugella crossover, which is presented in Russia. A 7-speed “robot” works in conjunction with the motor.