Geely Wants to Buy Aston Martin

Among the potential investors of the British company, the Chinese automobile holding Geely is considered.

On it reports the Financial Times referring to sources close to the company. Aston Martin is actively negotiating with potential investors, including the independent Chinese car holding Geely.

Geely Wants to Buy Aston Martin photo 2

The sale of some shares may help Aston Martin to enhance the prospects after the company reported a loss in the last year’s third quarter and shared the information that profits in 2019 were almost half as much as a year earlier. The situation stems from the fact that there was a decrease in demand for the brand's cars in the main European markets. In addition, the stock value has fallen by more than 4 times from $25 to $5.9 over the past year.

However, Aston Martin has high hopes for the new DBX sports SUV, which will have to attract new customers and become the brand’s bestseller. To date, the company has already received about 1.800 orders for the new model. According to President and Group CEO Andy Palmer, the demand for the new car can reach 4-5 thousand cars a year.

Meanwhile, Geely continues to extend its sphere of influence. It should be reminded that the Chinese holding company owns brands such as Volvo, Polestar, Lync & Co, Lotus and London EV Company. Moreover, Geely is the largest (9.69%) shareholder of the German concern Daimler AG. The Chinese company has finalized a deal to create a joint venture with Mercedes-Benz in order to produce ‘Smart’ electric vehicles.

Aston Martin DBX Aston Martin DBX

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