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
Emgrand EC7 EC7 was officially launched in South Africa in 2013. It's sold at R149,000. In Sri Lanka, Emgrand EC7 is sold under the Micro Emgrand brand which is owned by Geely. The car was scheduled to be launched into the United Kingdom market in late 2012. Geely set-up Geely Auto UK, which is a jointly-held subsidiary of Manganese Bronze Holdings which also owns taxi specialist LTI. Geely Auto UK Ltd will be based in Coventry. In partnership with Manganese Bronze, Geely started setting up a 40-strong dealer organisation, choosing small family-style garages to sell the cars, described as: "The sort of