Geely and Lawrence Stroll in Talks of Taking Over Aston Martin
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Chinese automaker Geely is thinking of buying a stake in British sports car manufacturer Aston Martin. Lawrence Stroll, the Canadian billionaire and part-owner of the Racing Point Formula 1 team, was also in the news recently for injecting $260 million into the struggling company. While discussions are solely confidential and there’s no official word out yet, the fresh funding could help Aston Martin stay in business along with its new luxury SUV and array of desirable sports cars.
The legacy of Aston Martin
Aston Martin has been a very aspirational brand with a legacy going back to 1913 and a glorious history in motorsports; it also received the prestigious “Luxury Brand of the Year” award in 2018 at the Luxury Briefing Awards. It’s no wonder many vouch for the brand, with Ford and Prodrive Chairman David Richards investing in Aston Martin in 2007. Daimler AG, which supplies Aston Martin with its engines and electrical systems, also plays a big part in keeping the automaker relevant. The DB11 grand tourer was the first to receive Daimler AG systems, followed by the V8-powered Vantage.
There’s always been a certain combination of charm and luxury carried by Aston Martin vehicles. Their performance and comfort go hand-in-hand quite beautifully. With most of its cars geared towards “Grand Touring,” the automaker has major competitors like the 812 Superfast, 911 Turbo, Jaguar F-TYPE, and AMG GT. The upcoming James Bond movie No Time to Die will feature a handful of Aston Martins and will hopefully help the brand with a 007 backing.
Rumors of new ownership
Li Shufu’s Geely has held preliminary discussions about investing in Aston Martin. Geely currently sells Volvo and Lotus vehicles, and has a minor stake in Daimler AG. The Chinese company is interested in technology-sharing, which can help Lotus. “We remain in discussion with potential strategic investors in relation to building longer-term relationships which may or may not involve an equity investment,” said a spokesperson for Aston Martin.
The brand is counting on its latest luxury SUV, the DBX, to do well. The new vehicle will be competing with the likes of the Bentayga, Urus, and Cullinan. While the DBX doesn’t go overboard with power, it truly impress when it comes to style, flair, and luxury. Aston Martin hopes to sell 14,000 vehicles by 2023 and with 1,800 orders already for the all-new DBX, that’s a good head start.
Aston Martin has quite a lot of horses in its stable right now. With its promising lineup of desirable sports cars and exclusive models, the automaker been going strong for quite some time. We’ll have to wait and see what the future holds for this luxury brand.
Kartik Jetly is the motorcycle guy of the team and loves exploring different styles of motorcycling. He’s worked with Harley-Davidson as well as in a Diesel Locomotive shed. He’s fueled by anything that’s creative or related to machines. Hence, he’s either sketching cars at his desk, resolving issues with his motorcycles, beatboxing beats all over the place, or editing the pictures he took during his last ride. He’s definitely more of a Miura guy than a LaFerrari guy and he has his own quirky way of talking about machines thanks to his vast knowledge on the subject.
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