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
China Everbright Group of Everbright Securities, 23.96 per cent stake of China Everbright Bank directly. China Everbright Group also owned 41.39 percent stake in Everbright International and 4.98% stake in Shenwan Hongyuan Group. China Everbright Bank was also owned by Central Huijin Investment, making Everbright Group and Everbright Bank were sister companies. China Everbright Group China Everbright Group is a Chinese state-owned enterprise. Everbright Group was a subsidiary (55.67 percent) of Central Huijin Investment. The Ministry of Finance of China owned the rest of the stake, which Central Huijin acquired on 8 December 2014. China Everbright Group was ranked 313th in 2016 Fortune