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
2001 China Jia B League Match Fixing Jia B team Guangzhou Geely had name changes when naming-sponsors ended sponsorship. Li Shufu, chief of Geely Group, was quoted as saying, "We won't come back until Chinese soccer environment turns better." Unsatisfied with the punishment made by the CFA, Song Weiping, the president of Zhejiang Greetown, submitted a list of referees allegedly taking bribes to CFA, seeking to have names removed from future matches. Gong Jianping, the referee of the Changchun-Zhejiang match, was arrested for bribery charges unrelated to the final round, and sentenced to 10 years in prison. 2001 China Jia B League Match Fixing The 2001 China