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
Automotive industry in the United Kingdom Automotive industry in the United Kingdom The automotive industry in the United Kingdom is now best known for premium and sports car marques including Aston Martin, Bentley, Caterham Cars, Daimler, Jaguar, Lagonda, Land Rover, Lister Cars, Lotus, McLaren, MG, Mini, Morgan and Rolls-Royce. Volume car manufacturers with a major presence in the UK include Honda, Nissan, Toyota and Vauxhall Motors (subsidiary of Opel, subsidiary of the French automotive company Groupe PSA). Commercial vehicle manufacturers active in the UK include Alexander Dennis, Ford, IBC Vehicles (owned by Groups PSA), Leyland Trucks (owned by Paccar) and London EV Company (owned by Geely).