China’s Geely buys 7.6% stake in Aston Martin Lagonda

Sep 30, 2022, 3:26 AM | Updated: 3:56 am
FILE - Visitors look at cars produced by Geely at the Auto China 2020 show in Beijing on Sept. 27, ...

FILE - Visitors look at cars produced by Geely at the Auto China 2020 show in Beijing on Sept. 27, 2020. Geely Holding Group, one of China's biggest independent automakers, has bought a 7.6% stake in British luxury brand Aston Martin Lagonda and said Friday, Sept. 30, 2022, that it looks forward to potential opportunities to collaborate. (AP Photo/Ng Han Guan, File)

(AP Photo/Ng Han Guan, File)

BEIJING (AP) — Geely Holding Group, one of China’s biggest independent automakers, has bought a 7.6% stake in British luxury brand Aston Martin Lagonda and said Friday it looks forward to potential opportunities to collaborate.

Geely declined to give details, but Aston Martin Lagonda announced Friday it raised 654 million pounds ($730 million) from investors including Geely and the Saudi government to pay down debt and “accelerate its long-term growth.”

Geely owns the Geely Auto, LYNK & Co. and Geometry brands, Volvo Cars and EV brand Polestar of Sweden, Britain’s Lotus and 9.7% of Mercedes parent Daimler AG.

“We look forward to exploring potential opportunities to engage and collaborate with Aston Martin,” Geely CEO Daniel Donghui Li said in a statement.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Wreaths hang on the Truman Balcony of the White House in Washington, Sunday, Nov. 27, 2022. (AP Pho...
Associated Press

‘We the People’ is the White House’s theme for the holidays

WASHINGTON (AP) — Drawing decorating inspiration from America’s founding documents, Jill Biden chose a “We the People” theme to deck the White House halls and to remind Americans of what unites them throughout the year, especially during the holidays. Journalists were given a sneak peek early Monday before the first lady was to unveil the […]
5 hours ago
FILE - Holding cells are visible in a basement of a police station that was used by Russian forces ...
Associated Press

Biden boosts US effort to stem sexual violence in war zones

WASHINGTON (AP) — President Joe Biden is strengthening U.S. policy aimed at stemming sexual violence in war conflict zones, elevating the problem — increasingly documented in Ukraine and elsewhere — to the level of a possible serious human rights abuse that triggers sanctions and other actions against foreign perpetrators. Biden, a Democrat, on Monday will […]
5 hours ago
FILE - Sen. Jacky Rosen, D-Nev., speaks during a Senate Homeland Security and Governmental Affairs ...
Associated Press

Democrats kept the Senate this year, but 2024 may be harder

NEW YORK (AP) — Democrats celebrating a successful effort to keep control of the U.S. Senate this year will soon confront a 2024 campaign that could prove more challenging. The party enters the next cycle defending 23 seats, including two held by independents who caucus with Democrats. That’s compared with just 10 seats that Republicans […]
5 hours ago
Associated Press

Water levels in Zimbabwe’s biggest dam too low for power

HARARE, Zimbabwe (AP) — Electricity shortages that have been plaguing Zimbabwe are set to worsen after an authority that manages the country’s biggest dam said water levels are now too low to continue power generation activities. The Zambezi River Authority, which runs the Kariba Dam jointly owned by Zimbabwe and neighboring Zambia, said in a […]
5 hours ago
FILE - The Federal Correctional Institution is shown in Dublin, Calif., July 20, 2006. The former w...
Associated Press

Ex-prison warden faces trial over inmate abuse allegations

The former warden of an abuse-plagued federal women’s prison known as the “rape club” goes on trial Monday, accused of molesting inmates and forcing them to pose naked in their cells. Ray J. Garcia, who retired after the FBI found nude photos of inmates on his government-issued phone last year, is among five workers charged […]
5 hours ago
Associated Press

California Police: Virginia man killed family, took teenager

RIVERSIDE, Calif. (AP) — The suspect in a triple homicide in Southern California who died in a shootout with police Friday is believed to have driven across the country to meet a teenage girl before killing three members of her family, police said. Austin Lee Edwards, 28, also likely set fire to the family’s home […]
5 hours ago

Sponsored Articles

...
Quantum Fiber

How high-speed fiber internet edges out cable for everyday use

In a world where technology drives so much of our daily lives, a lack of high-speed internet can be a major issue.
...
Day & Night Air Conditioning, Heating and Plumbing

Prep the plumbing in your home just in time for the holidays

With the holidays approaching, it's important to know when your home is in need of heating and plumbing updates before more guests start to come around.
(Photo via MLB's Arizona Fall League / Twitter)...
Arizona Fall League

Top prospects to watch at this year’s Arizona Fall League

One of the most exciting elements of the MLB offseason is the Arizona Fall League, which began its 30th season Monday.
China’s Geely buys 7.6% stake in Aston Martin Lagonda