Geely has taken a share of almost 8% in British performance car brand Aston Martin after a series of bids to acquire a stake in the OEM.

The Chinese carmaker, which already owns Volvo Cars and the London Electric Vehicle Company (LEVC) alongside major shares in Lotus Cars, Polestar and Smart, took a 7.6% share in Aston’s recent £654mn rights issue.

It comes after the OEM accepted £78 million from Saudi Arabia’s Public Investment Fund for a 16.7% stake but rejected a proposal from the Atlas Consortium – consisting of Geely and InvestIndustrial – to invest £1.3bn.

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