Geely Raises Stake In Aston Martin Lagonda
In case you didn’t know, Geely bought a 7.6 per cent stake in Aston Martin Lagonda in September last year. Now, less than a year later, China’s largest privately-owned automotive technology group has more than doubled that figure to about 17 per cent. As a result, Geely Holding has become the third-largest stakeholder in the British luxury car brand, with Lawrance Stroll and Saudi Arabia’s Public Investment Fund holding larger pieces of the pie. But it does move ahead of Mercedes-Benz, where the Chinese company is one of the biggest shareholders. That could flip soon as in October 2020, the three-pointed star said it would increase its stake in Aston Martin Lagonda to 20 per cent by the end of 2023.
