Geely plans to buy a stake in Aston Martin

Aston Martin Is Said in Last Ditch Funding Talks With Stroll Geely

Lawrence Stroll and Aston Martin are believed to be closing in on a deal for a major stake in the brand.

Shares of Aston Martin sped higher at the end of the week following news that China's Geely had held talks with the iconic carmaker's management regarding a potential investment. However, the talks may lead to a technological partnership instead of a full investment, one of the four said.

In particular, the third quarter of 2019 at Aston Martin were recorded impressive losses.

Geely's chairman Li Shufu, owns a 9.69% stake in Mercedes-Benz parent Daimler.

"People familiar with the matter" told Bloomberg that Geely is also interested in purchasing a piece of the pie. This bit of financial turmoil has also affected the company's shares, falling by 16 percent.

On 7 January, Aston said it remained in discussions with potential strategic investors and the FT confirmed the company was in talks with various parties.

Daimler, which owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines, supports efforts by the British carmaker to secure its long-term future, the source said. Geely and Daimler run the Smart city vehicle brand as a joint venture out of China. Aston martin added that it was continuing to review funding options, including a potential equity capital raise.

Before joining Red Bull as a title sponsor, Aston martin had been considering entering the championship as a manufacturer.

A spokesman for Geely Europe declined to comment.

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