Geely Holding Group Co., Ltd. (hereinafter referred to as “Geely Holding”) announced today that it has entered into an agreement with British ultra-luxury performance brand Aston Martin Lagonda International Holdings (hereinafter referred to as “Aston Martin”) ・Martin”) further reached a new cooperation agreement. As part of the cooperation, Geely Holdings has completed the increase in its stake in Aston Martin. After the increase, Geely Holdings will hold about 17% of the shares.
According to Aston Martin’s announcement on the London Stock Exchange, Geely Holdings will become the third largest shareholder of the luxury performance car brand.
Geely Holdings stated that increasing its stake in Aston Martin is an important part of Geely Holdings’ global strategic layout and investment. After this shareholding increase, Geely Holdings will have the right to appoint a non-executive director to join the Aston Martin board of directors, and will also have an observer seat on the board of directors.
Li Shufu, chairman of Geely Holding Group, said: “Increasing our stake in Aston Martin reflects our confidence in its growth prospects, technical strength and management team. Since we first acquired a minority stake in Aston Martin last September, we have been working candidly with Mr Lawrence Stoll, Executive Chairman, and his team to explore technological synergies and new growth opportunities, the two parties will strengthen their cooperation to fully realize the outstanding potential of this legendary ultra-luxury performance brand and help it achieve long-term sustainable growth .”
Aston Martin will only sell electric or hybrid vehicles starting in 2026, and will gradually phase out internal combustion engine products by then.
