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Chinese company Geely, owner of Volvo, also joins Aston Martin

It is quite normal for companies in the automotive industry to change ownership, form different partnerships or become shareholders of each other. Finally, the Chinese car giant GeelyAbout Aston Martin 7.6 percent stake took its place among the partners of the company by buying it.

Once owned by Ford Aston Martincurrently has a complex connected network. In addition to Geely, the company is the CEO of the Saudi Arabian Wealth Fund, Mercedes-Benz, and his son is on the Aston Martin F1 team. Lawrence Walk There are also shares of names and organizations such as:

Geely is expanding its range

aston martin

In recent years, like many Chinese companies, Geely has been trying to become more global by adopting a more aggressive strategy with its global investments and partnerships. In Sweden for this purpose LYNK&Co, Volvo and Polestar, like in England Lotus The company that bought it had partnered with Mercedes-Benz through Volvo. The two companies also teamed up to revive the Smart brand.

Geely has actually been around for a long time. Aston Martin He made plans to buy his brand. Geely previously made an offer ahead of the 2018 IPO when Aston Martin ran into financial trouble in 2019 Stroll and Geely mutual offers. Subsequently, Stroll’s effort to turn the brand into a supercar company gained the support of the board of directors.

Still, Geely kept his eyes on the company. Geely, who made another offer in July, without making a profit for existing shareholders It was rejected because it intended to buy majority shares.

Source: Web Tekno

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