Saudi Wealth Fund Bolsters Investment, Increases Stake In Aston Martin To Over 20%

The Saudi wealth fund ramped up its stake in British luxury carmaker Aston Martin AMGDF to 20.5%, according to a recent regulatory filing.

This move comes a week after Aston Martin’s quarterly results and future forecast disappointed investors, reported Reuters.

The Public Investment Fund’s (PIF) shareholding has surged by 2.6 percentage points from 17.9%. This positions it ahead of Geely Chairman and Chinese entrepreneur Shufu Li on Aston Martin’s shareholder list, as per LSEG data.

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The newly acquired shares were granted to PIF-controlled Lucid Group LCID, the filing disclosed. On the same day, Lucid unit Atieva revealed a 3.44% stake in Aston Martin.

In June, the Gaydon-based company struck a deal with Lucid, allowing the U.S. electric automaker a stake in Aston Martin in exchange for access to its high-performance technology.

The top shareholder at Aston Martin is Chair Lawrence Stroll.

PIF refrained from commenting beyond the details revealed in Wednesday’s filing.

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