China’s Geely Buys 7.6% Stake in Aston Martin

Leading Chinese car manufacturing group Geely announced on September 30 that it had completed its acquisition of a 7.60% stake in British luxury marque Aston Martin.

Aston Martin is headquartered in the UK, and its core models include the Vantage, DB11, and DBX, which are sold in 55 countries and regions around the world. The firm has been listed on the London Stock Exchange.

“We are delighted to announce our investment in Aston Martin and believe that with our well-established track record and technology offerings, Geely Holding can contribute to Aston Martin’s future success. We look forward to exploring potential opportunities to engage and collaborate with Aston Martin as it continues to execute its strategy to achieve long term, sustainable growth and increased profitability.” said Daniel Li, Geely Holding Group CEO.

Geely Holding has been making frequent moves in the international automobile market in recent years. Volvo, Proton, Lotus and other automobile firms have also come under partial Geely command in recent years. According to industrial analysis, this is related to the firm’s global layout plans.

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Gui Shengyue, Geely’s CEO and Executive Director, said previously that the firm has been actively deploying in the international market for many years, and its international layout will also show explosive growth in the future.

It is worth mentioning that on September 29, Polestar, a high-end electric vehicle brand owned by Geely, announced that it will launch its first all-electric SUV, the Polestar 3, in Copenhagen, Denmark on October 12.

According to official data, in August this year, the total automobile sales volume of Geely was about 122,600 units, an increase of about 39% over the same period of last year. From January to August, the cumulative automobile sales volume of Geely was about 859,100 vehicles, up 5% year-on-year.

According to a plan previously disclosed by the company, Geely aims to achieve the goal of selling 2.5 million vehicles in 2022, a potential increase of 10% year-on-year.