China's Geely in talks to take stake in Aston Martin: FT

Aston Martin DBX

It's rumoured that Stroll is willing to put up £200m as part of a capital increase by Aston Martin, primarily to fund production of the imminent DBX and reduce the company's debt burden.

A report said the owner of Racing Point Formula One team Lawrence Stroll is also in talks with the vehicle British company, but it could not be confirmed.

Geely, which owns Britain's Lotus and Sweden's Volvo as well as a stake in Daimler, is one of several groups in discussions about investing in the business. This bit of financial turmoil has also affected the company's shares, falling by 16 percent.

"We remain in discussion with potential strategic investors in relation to building longer term relationships which may or may not involve an equity investment", Aston Martin said in a statement.

Both parties have links to Daimler, the German owner of Mercedes-Benz that holds 5% of Aston and has the power to block any fresh investments in the company from another carmaker.

In what's described as a "final effort" according to Automotive News, Aston is seeking investment from Lawrence Stroll - the Canadian owner of Racing Point Formula 1 team. Geely and Daimler run the Smart city auto brand as a joint venture out of China.

Following the bitter news from 2019, chief executive officer Andy Palmer has confirmed that Aston Martin will seek debt funding as soon as possible in order to turn things around.

Geely and Mr Stroll declined to comment.

A spokesman for Geely Europe declined to comment.



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