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
Canvas (car company) Canvas (car company) Canvas is a vehicle subscription company based in San Francisco, California for Ford and Lincoln cars. The company is a subsidiary of the Ford Motor Credit Company. Canvas is directed at consumers seeking alternatives to car ownership and leasing or daily car rental. For a subscription term of one month to a year or longer, the service provides the use of a car bundled with insurance and maintenance coverage. Canvas was founded in December 2016 under founder and CEO Ned Ryan as a subsidiary of the Ford Motor Credit Company. The company launched operations in May 2017