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
Geely Boyue launched on the 12th of December 2018 at the Kuala Lumpur Convention Centre. The X70 is available with four variants: Standard 2WD, Executive 2WD, Executive AWD and Premium 2WD. All variants are powered by a 1.8 litre turbocharged gasoline direct injection or TGDI engine and pared to a 6-speed automatic gearbox. The Premium 2WD variant features ADAS or 'Advanced Driver Assistance System' which is a suite of collision avoidance systems which consists of: Geely Boyue The Geely Boyue is a compact crossover SUV produced by Chinese automaker Geely. Originally planned to be launched as part of the Emgrand series during