Chinese Geely has become a global automotive powerhouse. After having placed Volvo and Lotus under its umbrella, the company announces today the acquisition of 7.6% of the British Aston Martin.
Geely did not disclose the value of the deal, but the deal is valued at something like 8 billion euros, according to Automotive News Europe.
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Geely is the seventh largest automaker in China. In 2010, he acquired Swedish Volvo, which was under the command of Ford. In 2017 he bought part of Lotus and also Proton. In 2018, the company took 9.7% from Daimler, owner of the Mercedes-Benz and Smart brands. Last year, the company sold 2.2 million cars worldwide.
In Brazil, the company tried to enter in 2014 through a national company, but it did not work. The cars on offer did not arouse the interest of buyers, and technical support also left something to be desired. In 2016, she withdrew from the country, although Geely’s Brazilian website is available to this day.
In addition to Geely, Aston Martin has among its investors the Canadian Lawrence Stroll, father of Formula 1 driver Lance Stroll, who precisely races at Aston Martin. Lawrence Stroll owns 18.7% and is the company’s largest single shareholder.
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