Earlier this year, Aston Martin Lagonda rejected a proposal from Geely and InvestIndustrial for an equity investment, declaring "there is no basis for further discussion." At that time, the 109-year-old sports car marque argued the proposed deal was not an "attractive funding option or value creation opportunity for existing shareholders." However, there must have been further discussions because the situation has taken a 180-degree turn.

Geely has now issued a press release stating it has reached an agreement with the Gaydon-based marque. China's largest privately-owned automotive technology group has inked a deal with Aston Martin Lagonda to purchase a 7.6 percent share in the British brand for an unspecified sum. Geely joins Saudi Arabia's Public Investment Fund, which has a 16.7 percent share in AM, and Yew Tree – the consortium led by Lawrence Stroll – with an 18.3 percent stake. In addition, Mercedes has a 9.7 percent stake.

Aston Martin V12 Vantage roadster

Geely controls an overwhelming variety of automakers, including Volvo, Lotus, Polestar, Proton, and the London Electric Vehicle Company (LEVC), but also newcomers such as Lynk & Co, Zeekr, and Geometry. It is also worth pointing out that Geely founder and chairman Li Shufu has an equity interest of 9.7 percent in the Mercedes-Benz Group through Tenaciou3 Prospect Investment Limited.

The tie-up between Geely and Aston Martin comes only a few months after the UK brand revealed an updated logo and a new "Intensity. Driven" motto to go along with its "strategic repositioning." Its first electric model is scheduled to arrive in 2025 and all products will be electrified by 2026.

Before that happens, the Valhalla due in 2024 will be the firm's first plug-in hybrid model. Previously known as the Vanquish, an "entry-level" supercar is earmarked for 2025 with an AMG V8 instead of the originally planned in-house V6.