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
Emgrand 203,491 Emgrand vehicles were sold in China in 2013, making it the 23rd largest-selling car brand in the country (and the eighth largest-selling Chinese brand). Emgrand Emgrand was an automobile marque owned by the Chinese automaker Geely. It was launched in August 2009 and discontinued in 2014, when its products were rebranded as Geely. The "Emgrand" marque was publicly unveiled at the 2009 Auto Shanghai autoshow, together with two other new Geely brands, Englon and Gleagle. The first Emgrand EC7 production models for retail sale were completed in July 2009 at the Geely plant in Ningbo, Zhejiang. The EC7 went