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 National Coal Group limited company. The group also acquired Shanxi Huayu Energy in the same year. China United Coalbed Methane, a joint venture of China Coal Group and PetroChina, became a wholly owned subsidiary of China Coal Group also in 2009. At the same time PetroChina acquired some assets from China United Coalbed Methane. China Coal Group later sold China United Coalbed Methane to China National Offshore Oil Corporation in tranches from 2010 to 2014. China Coal Group's subsidiary, China Coal Energy, has been listed on the Hong Kong Stock Exchange since 2006 and the Shanghai Stock Exchange since 2008. China Coal Group