Geely Holding Group acquired a 7.6% share of British luxury automaker Aston Martin Lagonda Global Holdings, helping cement the Chinese company’s stake in luxury and European brands.
Geely will not get a board seat in the deal, but that hasn’t seemed to matter in its past dealings. Geely, which owns Lotus and its the largest shareholder of Polestar and Volvo Cars, took a 10% stake valued at $9 billion in Mercedes-Benz parent Daimler in 2018. Geely didn’t have a board seat either, but managed to exert its influence over the company, including a joint venture with the German automaker that gave it partial control of the Smart car brand.
Geely Holding Group CEO Daniel Donghui Li said in a statement that the company’s well-established track record and technology offerings will be able to contribute to Aston Martin’s future success.
Aston Martin …
