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 much attention in the Chinese automobile market. The Proton X70 is a right hand drive version of the Geely Boyue with minor cosmetic differences. On 24 May 2017, PROTON Holdings parent company DRB-HICOM announced plans to sell a 49.9% stake in Proton to Zhejiang Geely Automobile Holdings. Alongside the sale of stake, it was announced that Proton's first SUV would be based of the Geely Boyue. In April 2018, Proton opened up an online poll to the public to vote on the name. Participants could choose between: PX7, X7, X70 and X700 or voice in their own input. Latter that