China's Geely Takes 8-Percent Stake in Aston Martin

China's Geely takes 8-percent stake in Aston Martin.

Aston Martin announced Friday it has raised £654 million as it aims to produce a range of mid-engine sports cars, and push into electrification. One of the more interesting shareholders is Geely, the Chinese automaker that owns Volvo, Polestar, and Lotus, plus a stake in Mercedes-Benz. Per thepoints out that Geely previously nearly bought Aston Martin.

Aston Martin's other new major shareholder is the Saudi Arabian Public Investment Fund , which acquired an 18.7-percent stake in the company. The PIF is a majority shareholder in American EV startup Lucid Motors, and owns minority stakes in Pagani, and Aston Martin competitor McLaren. Aston Martin is still heavily in debt, and there are questions regarding whether Lawrence Stroll will continue trying to prop up the automaker.says that Geely could be a potential buyer if Stroll decides enough is enough. Geely has backed a successful turnaround for Volvo, transformed Polestar into a promising luxury-EV brand, and seems to be doing right by Lotus. Perhaps it wouldn't be the worst outcome for a British brand that's been on the brink for nearly a half-decade.

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