China's Zhejiang Geely acquires 7.6% stake in Aston Martin Lagonda

In this photo illustration, the logo of Aston Martin is displayed on a mobile phone screen in front of a computer screen displaying Aston Martin in Ankara, Turkiye on Aug 4, 2022. PHOTO VCG China's largest private carmaker Zhejiang Geely Holding GroupGeely Holding Group told China Daily that it has acquired a 7.6 percent stake in British luxury carmaker Aston Martin Lagonda.

Daniel Donghui Li, CEO of Zhejiang Geely Holding GroupGeely Holding Group, said that its well-established track record and technology offerings can contribute to Aston Martin's future success.

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Li said we look forward to exploring opportunities to collaborate with Aston Martin as it continues to execute its strategy to achieve long term, sustainable growth and increased profitability.

Aston Martin Lagonda is a British manufacturer of luxury sports cars and grand tourers. Its predecessor was founded in 1913 by Lionel Martin and Robert Bamford.

Zhejiang Geely Holding GroupGeely Holding Group owns Swedish premium brand Volvo and holds stakes in international brands including Daimler, Proton and Lotus, as well as its stake in Aston Martin.