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Business deals

China's Geely takes 7.6% stake in Aston Martin

Chinese company becomes 5th largest shareholder in British luxury automaker

Zhejiang Geely Holding Group's CEO Daniel Li said he believes that with its well-established track record and technology offerings, Geely can contribute to Aston Martin's future success.

CHONGQING -- China's auto giant Zhejiang Geely Holding Group said on Friday that it has invested in British luxury carmaker Aston Martin Lagonda by acquiring 7.6% of the company's common stock, making it the fifth largest shareholder.

Geely owns the British luxury car brand Lotus, and aims to further expand its business in the luxury car sector through cooperation with Aston Martin.

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