Aston Martin shares jumped as much as 20 per cent, and traded 13 per cent higher at 460.00 pence as of 4:29 p.m.in London.
China's Geely Automobile Holding held talks with Aston Martin management and investors as it considers investing into the British luxury carmaker, The Financial Times reported on Friday. The talks may lead to a technology partnership rather than a full investment, one of the people said.
Geely Chairman Li Shufu owns a 9.69% stake in Mercedes-Benz parent Daimler, which runs the Smart city vehicle brand with Geely as a joint venture out of China.
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"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.
Daimler, which owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines, supports efforts by the British carmaker to secure its long-term future, the source said. Of those owners with a significant stake already - Investindustrial and Adeem control more than 60 per cent - it's believed that the former will participate in a capital increase. If not renewed, it opens the door for a motorsport collaboration with Racing Point. The SUV, which has already generated 1,800 orders, will go into production in the second quarter of this year. Apparently "preliminary discussions" have taken place, though Geely has thus far refused to comment.
A spokesman for Geely Europe declined to comment.