Chinese firm Geely buys 7.6% stake in Aston Martin Lagonda

(Joe Giddens/PA)

One of China’s biggest independent car makers has bought a 7.6% stake in British luxury brand Aston Martin Lagonda and said it looks forward to potential opportunities to collaborate.

Geely Holding Group declined to give details, but Aston Martin Lagonda announced on Friday that it had raised £654 million from investors including Geely and the Saudi government to pay down debt and “accelerate its long-term growth”.