Can Geely turn Aston Martin into an EV powerhouse after doubling its stake?
Volvo and Polestar owner Geely announced it had raised its stake in the iconic British luxury automaker Aston Martin to 17% as part of a new relationship agreement.
Zhejiang Geely Holding Group Co. Ltd., or simply Geely to most, is China’s largest privately owned auto tech group with an emerging EV presence.
After buying out Volvo Cars in 2010 from Ford, Geely gained access to the established Swedish automaker’s technology and expert knowledge in safety, minimalist design, and engineering.
Geely also acquired Volvo’s racing partner, Polestar, in 2015 and British sports carmaker Lotus in 2017. By sharing technology and platforms, Geely has grown into a leading EV maker in China, with its hand in nearly every segment.
The Geely umbrella has continued to expand over the years by introducing new dedicated EV brands, including ZEEKR, its premium EV line, and Geometry, its mass-market electric car company.
With a larger stake in Aston Martin, can Geely do the same with the famed luxury British automaker?
Geely raises stake in Aston Martin ahead of first EV launch
Geely revealed it had increased its stake to 17% in Aston Martin, more than doubling its previously announced 7.6% ownership in September and becoming its third largest shareholder.
The decision to increase its ownership comes as Geely’s chairman and founder, Eric Li, expressed “confidence in the company’s growth prospects, its technologies, and its management team.”
Li added since acquiring its first stake in Aston Martin, the company has worked with executive chairman Lawrence Stroll and now looks forward to “exploring joint technology synergies and new growth opportunities.”
Stroll added:
Geely can offer us a deep understanding of the key strategic growth market of China as well as the opportunity to access their range of technologies.
Interestingly, Aston Martin rejected Geely’s £1.3 billion ($1.61 billion) investment proposal last year that would have allowed the Chinese automaker to take control of the business.
Aston Martin has struggled to raise funds over the past several years as it burns through cash. The British sports carmaker later raised £575.8 million ($660 million ) from the Saudi Arabia Public Investment Fund.
Although Aston Martin has yet to release its first fully electric vehicle, the company plans to launch one by 2025.
Electrek’s Take
Geely has the technology and partnerships to evolve the Aston Martin brand, reviving it in the new electric era.
Geely’s other brands are thriving. Volvo’s EV sales grew 157% in the first three months of 2023, with new models coming to drive momentum further, including the EX90 SUV and its smallest and cheapest SUV, the EX30, due out this summer.
Meanwhile, Polestar achieved another record first quarter, delivering 12,076 models, up 26% YOY, with its first electric SUV, the Polestar 3, due out next year.
ZEEKR built its 100,000th electric vehicle in April after only 18 months and believes it can be a top three premium EV maker by the end of the decade. Sales of Lotus’s first electric SUV, the Electre, began in 2022 after unveiling the $2 million all-electric Eviija hypercar in 2019.
For Aston Martin to turn things around, it will take a brand revamp. And what would be better than all-electric Aston Martins?
Not only do EVs offer more power and instant torque, but they are also loaded with the latest software and tech features to make the driver experience that much more enjoyable.
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Can Kia’s first electric sedan live up to the hype? After launching the EV4 in Korea, we are finally seeing it in action. A new test drive of the EV4 gives us a closer look at what to expect as Kia prepares to take it global. Here’s how it went down.
Kia EV4 test drive: The good, the bad, and the ugly
Kia claims the EV4 will “set a new standard in electric vehicles” with long-range capabilities, fast charging, and a sleek new design.
The electric sedan features a unique, almost sports-car-like profile with a long-tail silhouette and added roof spoiler.
Kia claims it is “the new look of a sedan fit for the era of electrification.” Despite its four-door design, the company is calling it a new type of sedan.
The design is not only eye-catching, but it’s also super efficient. With a drag coefficient of just 0.23, the EV4 is Kia’s most aerodynamic vehicle so far, enabling maximum driving range and efficiency.
Kia opened EV4 orders in South Korea in March, starting at about $29,000 (41.92 million won). It’s available with two battery options: 58.2 kWh and 81.4 kWh. The entry-level “Standard Air” model, powered by the 58.2 kWh battery, is rated with up to 237 miles of driving range.
The “Long-Range Air” variant starts at 46.29 million won ($31,800) and has a driving range of up to 331 miles (533 km) in Korea.
With charging speeds of up to 350 kW, the EV4 can charge from 10% to 80% in around 29 minutes. The long-range battery will take about 31 minutes.
The interior boasts Kia’s latest ccNC infotainment system with a 30″ Ultra-wide Panoramic Display. The setup includes dual 12.3″ driver displays, navigation screens, and a 5″ air conditioning panel.
With deliveries kicking off, we are seeing some of the first test drives come out. A review from HealerTV gives us a better idea of what it’s like to drive the EV4 in person.
Sitting next to Kia’s first pickup, the Tasman, the reviewer mentions the EV4 feels “particularly newer.” The test drive starts around the city with a ride quality similar to that of the K5, if not even better.
As you can see from the camera shaking, the ride feels “a bit uncomfortable” on rough roads. However, on normal surfaces and speed bumps, Kia’s electric sedan “feels neither too soft nor too hard,” just normal. The reviewer calls the EV4’s overall ride quality “quite ordinary” with “nothing particularly special about it.”
When accelerating, the electric car was smooth in the beginning but felt “a little lacking in later stages.” Overall, it should be enough for everyday use.
One of the biggest issues was that the rear window appeared too low. The rear brake lights also stick out, making it hard to see clearly through the rearview.
Keep in mind that the test drive was the Korean-spec EV4. Kia will launch the EV4 in Europe later this year and in the US in early 2026.
In the US, the EV4 will include a built-in NACS port for charging at Tesla Superchargers and a driving range of up to 330 (EPA-est) miles. Prices will be revealed closer to launch, but the EV4 is expected to start at around $35,000 to $40,000.
Would you buy Kia’s electric sedan for around $35,000? Or would you rather have the Tesla Model 3, which starts at $42,490 in the US and has up to 363 miles of range? Let us know in the comments.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla Model Y RWD in the US, Cybertruck bait-and-switch, Rivian earnings, and more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.
Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):
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Hyundai’s 2026 IONIQ 9 EV is launching with a lease deal, affordable rates, and a big rebate, making the automaker’s largest EV a competitive choice.
Leasing a 2026 Hyundai IONIQ 9
CarsDirect reports that, according to a bulletin sent to dealers, the 2026 Hyundai IONIQ 9 S is $419 for 36 months with $4,999 due at signing based on 10,000 miles a year. That makes the effective cost of the nationally available lease $558 monthly.
That’s slightly more expensive than the Model Y Long Range Rear-Wheel Drive, which debuted this week. It can be leased for $399 with $4,093 at signing or $513 per month. That’s a price difference of only $45 per month, potentially making the IONIQ 9 a better value, since Hyundai’s first three-row electric SUV gives you more car for the money.
The IONIQ 9 offers 335 miles of driving range, fast charging capabilities, room for seven, and prices start at $60,555.
Financing and incentives
Hyundai isn’t offering rebates on the IONIQ 9, but good news – it qualifies for the $7,500 federal EV tax credit because it’s manufactured in Georgia.
The IONIQ 9 has national financing rates as low as 1.99% APR for up to 60 months. For a lower monthly payment, there’s a 72-month option at 2.99%. Compare that to the most affordable 2026 Tesla Model Y, which has a 72-month option at 5.49% APR, and it shows what a good deal it is.
There’s also a $5,000 financing incentive available, but you have to choose a loan at a higher interest rate to get it. The $5,000 Dealer Choice Bonus helps lower prices if you finance at 5.99% for 60 months and 6.59% for 72 months.
However, it’s cheaper to opt for the 1.99% APR deal instead of the Dealer Choice Bonus and higher interest rate; CarsDirect found that the 1.99% APR could save IONIQ 9 buyers up to $2,200:
On a 5-year loan at 1.99%, we estimate the IONIQ 9 would cost $63,084. With the APR and rebate combo, it would cost $63,783. Here, opting for the lower rate would save buyers roughly $700. But that’s not the whole story. That’s because Dealer Choice offers, available on many Hyundais, allow a mark-up of up to 1%.
As a result, the $5,000 rebate and higher rate of 6.99% could cost buyers over $2,200 more than simply taking the lower rate to begin with.
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