Geely Holding takes stake in Aston Martin Lagonda

Sep. 30, 2022 6:52 AM ETGeely Automobile Holdings Limited (GELYF)GELYYBy: Clark Schultz, SA News Editor

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Geely Holding Group acquired a 7.6% stake in British luxury brand Aston Martin Lagonda.

The Chinese company said it looks forward to potential opportunities to collaborate with Aston Martin.

Aston Martin took in $730M in funds from investors including Geely and the Saudi government to pay down debt and accelerate its long-term growth.

Geely owns the Geely Auto, LYNK & Co. and Geometry brands, Volvo Cars and EV brand Polestar of Sweden, Britain’s Lotus and 9.7% of Mercedes parent Daimler AG.

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