Geely, the parent company of several automotive brands including Volvo, Lotus, and Polestar, has increased its stake in Aston Martin as the British supercar company plans to expand its presence in China. The Chinese automaker now owns 17% of Aston Martin, making it the third-largest shareholder in the company. This move comes less than a year after Geely first invested in Aston Martin, with a 7.6% stake announced in September 2020.
Geely also owns a significant stake in the Mercedes-Benz Group and is one of the largest single shareholders in the company. The Chairman of Geely, Eric Li, expressed his confidence in Aston Martin’s growth prospects, technology, and management team. He stated that “we look forward to exploring joint technology synergies and new growth opportunities to help this iconic automotive brand to achieve its full potential.”
Lawrence Stroll’s Yew Tree Corporation remains the largest shareholder, while Saudi Arabia Investment Fund holds the second-largest stake after Geely. Aston Martin Chairman Lawrence Stroll believes that Geely’s deep understanding of China’s key strategic growth market and range of technologies will benefit the company.
In comparison, Ferrari’s largest single shareholder is Exor, the holding company of Italy’s Agnelli family, which owns 24%. Exor also owns a 14.4% share of Stellantis, the parent company of several other automotive brands. The son of Enzo Ferrari, Piero Ferrari, retains a 10.2% stake in the company. Lamborghini, on the other hand, is owned by the Volkswagen Group through its subsidiary, Audi.
Geely’s increased stake in Aston Martin shows their commitment to the company’s future success. With their expertise and resources, Geely can help Aston Martin expand their presence in China, which is becoming an increasingly important market for luxury car brands. The partnership has the potential to create new growth opportunities and cutting-edge technology for the iconic British brand.