The iconic British Aston Martin auto may be sold to a Chinese company, according to reports.
Zhejiang Geely Holding Group Co. of China has held talks with management and investors in Aston Martin Lagonda Global Holdings Plc about taking a stake in the United Kingdom carmaker, the Financial Times reported. However, the talks may lead to a technological partnership instead of a full investment, one of the four said.
Geely's chairman Li Shufu, owns a 9.69% stake in Mercedes-Benz parent Daimler. This bit of financial turmoil has also affected the company's shares, falling by 16 percent.
"Bloomberg" are reporting that Stroll - who has amassed a fortune in excess of £2billion - is in 'advanced discussions with Aston Martin.
On 7 January, Aston said it remained in discussions with potential strategic investors and the FT confirmed the company was in talks with various parties.
Geely sells an array of cars under its Lotus, PROTON and Volvo brands.
Aston is hoping to base its recovery on the DBX, a sport utility vehicle that will be built at a new facility in Saint Athan, Wales. The SUV, which has already generated 1,800 orders, will go into production in the second quarter of this year.
A spokesman for Aston declined to comment on whether the company is in talks with Geely, and reiterated a statement from Tuesday.
A spokesman for Geely Europe declined to comment.