Aston Martin will lean on investor Geely to supply key interior components in a bid to reduce costs and shorten development timeframes.
Autocar reports word from Roberto Fedeli, Aston Martin’s chief technical officer, that Geely will supply seats, as well as heating, ventilation and air-conditioning (HVAC) parts, for its upcoming range.
Mr Fedeli went on to say the luxury brand will endeavour to source “everything we can get from a wide shelf of components”, as the brand plans to accelerate its development of new models.
By leaning on Geely, CEO Amedeo Felisa says the company expects to cut its current supplier list by 30 per cent.
Geely (which owns Volvo, Lotus and Polestar, among others) has more than doubled its share in Aston Martin this year, which makes it the third-largest shareholder behind Lawrence Stroll and Saudi Arabia’s Public Investment Fund. It now has a 17 per cent stake.
Recently, Aston Martin announced it will use American brand Lucid, alongside its already established partnership with Mercedes-Benz, for electric vehicle powertrains and architecture.
“Along with Mercedes-Benz, we now have two world-class suppliers to support the internal development and investments we are making to deliver our electrification strategy,” said executive chairman Lawrence Stroll.
“With the recently announced long-term partnership with Geely, we will also gain the opportunity to access their range of technologies and components, as well as their deep expertise of the key strategic market of China.”
As part of the equity increase, Geely is being given the opportunity to appoint a non-executive director to Aston Martin’s board as a shareholder representative, along with a second person to act as an observer.
Mercedes-Benz is expected to increase its stake in Aston Martin to as much as 20 per cent by the end of 2023.
The new partnerships will allow the luxury carmaker to cut costs on its vehicles and accelerate development as it plans to sell approximately 7000 vehicles this year, which is a 600 vehicle increase year-over-year.