007’s supercars could soon be owned by a Chinese enterprise. Watch out, because according to the Financial Times, the Chinese are just steps away from acquiring Aston Martin. China-based Geely is allegedly managing negotiations to buy majority ownership of the British supercar manufacturer. Always according to the newspaper, Geely’s top management is undergoing the due diligence phase. In other words, the deal is advanced and an offer should be made soon.
Credibility and Facts
Financial analysts consider the operation to be both credible and doable for a variety of reasons. On one hand are Aston Martin’s difficulties, as sales in 2019 declined by 7%, stopping at a total of 5,809 vehicles sold. On the other is the experience Geely has in the automotive industry. The Chinese company already owns Volvo Cars, Lotus, Proton, London Electric Vehicle Company and 50% of Smart. In this last instance, the remaining 50% is owned by Mercedes Benz, which is part of Daimler. This isn’t just a coincidental factor.
From Aston Martin to Mercedes
Li Shufu, founder and owner of the Zhejiang Geely Holding (which controls Geely) acquired in February 2018 9.69% of Daimler’s capital, as mentioned, owner of Mercedes. Aston Martin has been buying chassis and engines from Mercedes for the last 6 years.
A bit of Italy
The entire operation has to do with Italy as well, in a way. As of today, 36.5% of Aston Martin is owned by the Adeem Primewagon group, located in Kuwait. But a 30.97% quota is currently of Investindustrial, family company of the Bonomi family.
In picture, one of Aston Martin’s creations: the DBS SUV