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
Shanghai Maple Shanghai Maple Shanghai Maple Guorun Automobile Co., Ltd. (Shanghai Maple) is a Chinese automobile manufacturing company based in Fengjing, Shanghai, and a subsidiary of Zhejiang Geely Holding Group. Shanghai Maple was established in 2000. Geely acquired a strategic holding in Shanghai Maple in 2002, and in 2008 Shanghai Maple was fully consolidated into Geely as their budget brand. The first Shanghai Maple vehicle was produced in the summer of 2003, based on the 1990s-era Citroen ZX. The Maple Marindo was displayed at the 2005 Frankfurt Motor Show. The export of Shanghai Maple vehicles to Egypt began in 2007, where were