The Chinese group Geely became the third shareholder of Aston Martin through investment more than 269 million euros in the capital of Gaydon.

In particular, Geely is buying approximately 48 million euros of ordinary shares owned by the main shareholder, an investment company led by Canadian billionaire and Aston Martin chairman Lawrence Stroll.

This first tranche involves a payment of £3.35 per share (approximately €3.85 at the current exchange rate), against the stock price set a few days ago at £2.31 (approximately €2.65).

Geely acquired 17% of Aston Martin shares

With a 17% stake, Geely Automobile Holdings Ltd enters through the front door and becomes the third majority shareholder behind Yew Tree and the Saudi Arabian Public Investment Fund.

A Chinese group that was 16^thousand the global automaker by volume of car sales in 2022 will thus become a member of the Aston Martin board.

During Geely’s announcement, Lawrence Stroll himself said: “Geely Holding, which has become a shareholder of Aston Martin, sees enormous potential for the long-term growth and success of the brand. This gives us deep knowledge of the strategic market that China represents, as well as the opportunity to gain access to a number of its technologies and components.”.

Geely is advancing its pawns in Europe

Remember that Geely is already actively represented in the European market with brands such as Volvo, Polestar, Smart, Lotus, Lynk & Co and LEVC, a British company that produces new hybrid London taxis.

Electric SUVs of the Zeekr brand, which is also part of the Chinese Geely group, are also planned for the Old Continent. Here is a complete list of Geely Group brands, including those that are joint ventures with other manufacturers: Farizon, Geely, Geometry, Jidu, LEVC, Lotus, Lynk & Co, Maple, Polestar, Proton Radar, Smart, Zeekr and Volvo.