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 LC Geely LC The Geely LC, sold in its home market as the Geely Panda or the Gleagle Panda, is a city car produced by the Chinese manufacturer Geely from November 2008 to 2016. In 2010 the LC scored 45.3 in C-NCAP crash tests, making it China's first locally researched and developed compact car to be awarded a 5-star rating, and it is subsequently the safest Chinese hatchback as of 2011. The LC was able to achieve the above despite a development process that relied more on computer simulations than actual crash tests. In 2017, The Panda was replaced by a