Sometime last year Geely bought a considerable amount of shares in the Aston Martin car company, at the time it was said to have been around 7 percent. It seems the China automotive giant isn’t done, and in fact, has doubled down on its investment.
Geely buys more of Aston Martin
According to reports Geely has upped its investment in the legendary British automaker to 17 percent. This was done by the company purchasing 42 million ordinary shares from Yew Tree the investment company of Lawrence Stroll.
Lawrence Stroll isn’t just your ordinary majority shareholder, he is also the executive chairman of the luxury brand, and responsible for Aston Martins’s resurgence in Formula 1.
This purchase makes Geely the third largest shareholder in Aston Martin (Just behind Stroll and the Saudi Arabia Public Investment Fund). Things will hopefully bode well for Aston Martin post-purchase, considering the brand has lofty ambitions and an ever-growing expense tab with forays into multiple racing disciplines, not to mention a healthy number of cars for sale to the public.
As a brand the Aston group has always punched above its weight, but with the new investment, they might just be the ones to beat in the future, only time will tell.