Geely an important step for the Chinese carmaker in their quest to make inroads into the lucrative ASEAN region. In July 2017 the company purchased Terrafugia, an American maker of flying cars. In November 2017, Geely announced completion of the Terrafugia acquisition, including approval from all relevant regulators. In December 2017, Geely invested € 3.25 billion into Swedish truck and construction company Volvo Group, a former parent company of Volvo Cars. The deal has made the company the biggest shareholder with 8.2 % of stake and 15.6 % of voting rights. Furthering its expansion and reach, Geely purchased a 9.7% stake
Advantage Rent a Car of about $1,633 per vehicle, which resulted in a total loss of about $8.6 million. On August 26, 2012, Hertz announced that it had agreed to sell the US Advantage business to Franchise Services of North America and Macquarie Capital, as a divestiture to receive regulatory approval of Hertz's acquisition of Dollar Thrifty, announced at the same time, and to convert foreign Advantage-branded locations to a new Firefly Car Rental brand. On December 12, 2012, Advantage Rent A Car was acquired by a subsidiary of Macquarie Capital, which was to be merged with Franchise Services of North America, Inc. (TSXV:FSN)