China's Geely acquires US flying-car startup Terrafugia

China's Geely acquires US flying-car startup Terrafugia

Chinese billionaire Li Shufu’s Zhejiang Geely Holding Group has completed the acquisition of Terrafugia Inc, a US-based company for an undisclosed sum, according to a statement.

Founded in 2006, Terrafugia aims to develop a mass-market flying car.

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