Chinese auto giant Geely continues its investments. The automotive company, which is interested in the British Aston Martin company, bought 7.6 percent of the company and became a partner in the company.
It is quite normal for companies in the automotive industry to change hands, establish different partnerships or become each other’s shareholders. Finally, the Chinese automotive giant geelyAbout Aston Martin 7.6 percent stake took its place among the partners of the company by purchasing it.
Once owned by Ford Aston Martincurrently has a complex affiliate network. In addition to Geely, the company is the CEO of the Saudi Arabian Wealth Fund, Mercedes-Benz, and his son is in the Aston Martin F1 team. Lawrence Stroll There are also shares of names and organizations such as
Geely expands its product range
In recent years, like many Chinese companies, Geely is trying to become more global by following a more aggressive strategy with its worldwide investments and partnerships. In Sweden for this purpose LYNK&Co, Volvo and Polestar, if in England Lotus The company that bought it had cooperated with Mercedes-Benz through Volvo. The two companies were also working together to revive the Smart brand.
Actually, Geely has been around for a long time. Aston Martin He was making plans to buy his brand. Previously, Geely submitted a bid prior to its 2018 IPO. When Aston Martin faced financial problems in 2019 Stroll and Geely mutual offers. Subsequently, Stroll’s effort to turn the brand into a supercar company had the support of the board of directors.
Still, Geely kept his eyes on the firm. Geely, who made another offer in July, without creating any profit to existing shareholders It was rejected on the grounds that it intended to buy majority shares.
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Source :
https://jalopnik.com/geely-wanted-to-buy-all-of-aston-martin-instead-will-s-1849601618