Aston Martin has appointed Geely CEO Daniel Lee to its Board of Directors. The Chinese automaker is its third-largest shareholder.
In May, Geely invested £234 million ($299.4 million) in the British automaker, giving it the right to one seat on the board of directors. As part of the deal, Geely acquired a 17 percent stake in Aston Martin, purchasing 42 million shares from Chairman Lawrence Stroll's Yew Tree consortium along with 28 million new shares.
Previously, Geely acquired a 7.6 percent stake in Aston Martin in September last year.
Strolla's Yew Tree is currently the company's largest shareholder, followed by the Saudi Arabian State Investment Fund.
Geely owns several brands including British sports car maker Lotus, Zeekr, Volvo Cars and Polestar, through joint venture with Volvo.
Aston Martin appoints Geely CEO to Board
Geely increased its investment in British automaker to 17% in May.
Aston Martin has appointed Geely CEO Daniel Lee to its board of directors. The Chinese automaker is its third-largest shareholder.
In May, Geely invested £234 million ($299.4 million) in the British automaker, giving it the right to one seat on the board of directors. As part of the deal, Geely acquired a 17 percent stake in Aston Martin, purchasing 42 million shares from Chairman Lawrence Stroll's Yew Tree consortium along with 28 million new shares.
Previously, Geely acquired 7.6 % of Aston Martin's shares in September last year.
Currently, Yew Tree Strolla is the company's largest shareholder, followed by the Saudi Arabian State Investment Fund.
Geely owns several brands , including British sports car maker Lotus, Zeekr, Volvo Cars and Polestar, through a joint venture with Volvo.
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