The Geely Group makes a new investment in the European auto market. In fact, the Chinese have made it known that they have acquired 7.6% of Aston Martin . Thanks to this financial operation, Geely becomes one of the most & ugrave; important shareholders of the English brand. Furthermore, & egrave; a clear move by Li Shufu, the billionaire owner of Geely, to expand his company's presence in Europe. In fact, we recall that the Chinese Group owns Lotus, Volvo and also a stake in Daimler.
Geely did not provide information on the amount of the investment but based on the closing price of Aston Martin shares on September 28, the stake is valued at 7.55 billion pounds that is; approximately 8.5 billion euros. To understand, at this point, what fruits it will be able to & agrave; lead the entry into the capital of Aston Martin of the Chinese Group. At the moment, Geely is & egrave; limited to stating:
We believe that with our established track record and technology offerings, Geely can contribute to the future success of Aston Martin. We look forward to evaluating potential opportunities to partner with Aston Martin as it continues to implement its strategy to achieve long-term sustainable growth and greater profitability.
Geely could bring Aston Martin its expertise in the electrification sector, perhaps sharing the technologies developed through Lotus. It is, however, only speculation since it is not; Nothing said about it. Aston Martin also said on Friday that it has completed a capital increase with the aim of reducing debt and being able to invest in new models. Is not serious; It is clear whether the shareholding was taken over by Geely at the time of the capital increase.
It must be said, however, that already; in the past, the Chinese group had expressed interest in the British brand. However, no agreement had ever been found until now.
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