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
Luqiao District Luqiao District Luqiao District (; Tai-chow dialect: Lu-giao K'ü) is a district of Taizhou in Zhejiang Province, People's Republic of China. The district has an area of and a population of approximately 425,200. Luqiao District was established in 1994, having previously been a town under the administration of Huangyan County (present-day Huangyan District). Luqiao is the location of Taizhou Luqiao Airport and also is the headquarters of Taizhou Commercial Bank and Zhejiang Tailong Commercial Bank, making it the financial capital of Taizhou. Geely Car group originated from Luqiao and has a large manufacturing base here. Luqiao District is divided into