Aston Martin becomes a bit Chinese

The 2022 of Aston Martin it began with a sharp “no” to Geely’s request to join the shareholder base, commenting on the refusal with a “there is no basis for further discussion” which seemed to leave no room for future discussion. In fact, at the time, the British company claimed that the proposed transaction did not represent “an interesting financing option or an opportunity to create value for existing shareholders”.

In the following months something must have happened because now the situation has reversed: Geely has in fact published a press release in which it declares to have reached an agreement with Aston Martin for the purchase of a 7.6% stake in the British brand for an unspecified sum.

The Chinese giant thus takes home another piece of the European automotive industry and joins other shareholders such as Mercedes, which holds 9.7%, the investment fund of the Saudi royal family (16.7%) and Yew Tree – the consortium led by Lawrence Stroll – with 18.3%.

A push for the electric?

Geely’s entry into Aston Martin comes a few months after the presentation of the new logo of the English manufacturer, accompanied by the claim “Intensity. Driven” which will mark Gaydon’s new course and underlines (to quote Aston Martin) “the driving sensations and the emotional bond that drivers establish with their car”. Concepts that will be taken up by future communication campaigns and of course also by the next models.

The new Aston Martin logo

A new course that has seen a new loan of 744 million dollars signed by the 3 majority shareholders (investment fund of the Saudi royal family, Yew Tree and Mercedes) thanks to which Aston Martin will be able to continue developing its plans for the future, including the first electric supercar expected in 2025. The entry of Geely and the availability of new funds will certainly be convenient and could even accelerate the transition to electric.

Geely e l’amore per l’Europa

As for Geely, on the other hand, this is yet another entry into a European brand. In fact, the Chinese giant has begun its “conquest” of the Old Continent by taking it home Volvo and then continue with Lotus, Benelli (through the acquisition of Zhejiang Qianjiang Motorcycle Group Co-Qianjiang Motorcycles), the majority of the shares of Daimler and 50% of smart.

Source: Italia – News by

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