Aston Martin has appointed Geely CEO Daniel Li to its board. The Chinese language automaker is its third largest shareholder.

Geely in Could made a 234-million-pound ($299.4 million) funding within the British automaker, giving it the proper to 1 board seat.

As a part of the transaction, Geely acquired a 17 p.c stake in Aston Martin, buying 42 million shares from Chairman Lawrence Stroll’s Yew Tree consortium together with 28 million new shares, Aston Martin mentioned on the time in a inventory alternate submitting.

Geely beforehand acquired a 7.6 p.c stake in Aston Martin in September final 12 months.

Aston Martin has struggled with money and bought Saudi Arabia’s Public Funding Fund as a shareholder final 12 months as Stroll appears to show across the automaker and pivot to battery-powered sports activities vehicles.

Analysts have up to now mentioned that Aston’s lack of scale and precarious money steadiness made it susceptible.

At the moment, Stroll’s Yew Tree is the corporate’s largest shareholder, adopted by Saudi Arabia’s Public Funding Fund.

Geely owns a number of manufacturers together with British sports-car maker Lotus, Zeekr, Volvo Automobiles and Polestar, by way of a three way partnership with Volvo.