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Aston Martin Attracts Chinese Carmaker Geely as Shareholder

  • Deal expands tycoon Li Shufu’s reach into legacy auto brands
  • Aston Martin has struggled with high debt, solvency concerns
Aston Martin’s DBX SUV.

Aston Martin’s DBX SUV.

Source: Aston Martin Lagonda Global Holdings Plc

Updated on

Chinese automaker Zhejiang Geely Holding Group Co. has acquired a stake in British luxury carmaker Aston Martin Lagonda Global Holdings Plc, expanding tycoon Li Shufu’s reach into European brands.

Geely bought a 7.6% interest in Aston Martin, according to a statement Friday that didn’t provide a transaction value. Aston Martin also said it had completed a £654 million ($732 million) capital raising to strengthen its balance sheet.