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 later shown at the 2010 Beijing Auto Show. Emgrand unveiled three new concept cars at the 2012 Beijing Auto Show - the EX8, EX9 and GE. Emgrand unveiled the KC concept car at the 2013 Shanghai Auto Show, a Mid-size sedan previewing the Emgrand EC9 production model. Due to the discontinuation of the Emgrand brand one year after, the production model was sold under the Geely brand as the Geely Borui. Emgrand vehicles were principally assembled at the Geely plant in Ningbo, Zhejiang. Around 110,000 Emgrand vehicles were sold in China in 2011, a 50 per cent increase on 2010.