Geely, the Chinese carmaker that owns Volvo and Lotus, has bought an 8 percent stake in Aston Martin.

Saudi Arabia's Public Investment Fund was the largest participant in a $726 million fundraising round by the luxury vehicle manufacturer but Geely's involvement could open the way for collaborations between the brands.

Geely has previously tried to buy Aston Martin, famed for supplying cars to the James Bond movie franchise.

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Geely CEO Daniel Donghui Li said: "We're delighted to announce our investment in Aston Martin and believe that with our well-established track record and technology offerings, Geely Holding can contribute to Aston Martin's future success.

"We look forward to exploring potential opportunities to engage and collaborate with Aston Martin as it continues to execute its strategy to achieve long term, sustainable growth and increased profitability."