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Aston Martin: The James Bond car made millions at Christie's
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NEIL HALL / EPO
The Geely Group has acquired a 7.6 percent stake in the British luxury car brand Aston Martin Lagonda, Geely announced on Friday.
We look forward to future cooperation.
Geely is one of the largest private car manufacturers in China.
Geely founder and Volvo boss Li Shufu is thus continuing his expansion strategy.
The Geely Group already includes Volvo, the electric car manufacturer Polestar from Sweden and the British brand Lotus.
With a stake of almost 10 percent, Geely is also one of the largest single shareholders of Mercedes-Benz.
A spokesman for Aston Martin Laonda said they received around 730 million euros from investors.
To the investors Geely and Saudi Arabia.
Aston Martin wants to use the money to reduce its debt burden and accelerate its long-term growth strategy, it said.
"We look forward to working with Aston Martin," said Geely CEO Daniel Donghui Li. Opportunities will be explored to strengthen both sides through cooperation.
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