Volvo owner buys flying-car maker Terrafugia - News Summed Up

Volvo owner buys flying-car maker Terrafugia


NEW YORK—Rather than just put more vehicles on the world’s congested roadways, Volvo Cars owner Zhejiang Geely Holding Group Co. is looking to the skies. The Chinese automaker has acquired a U.S. company trying to bring a flying car to market in 2019. Terrafugia Inc., founded by five graduates of the Massachusetts Institute of Technology, also plans to deliver the first vertical-takeoff-and-landing car by 2023. Following the deal, which Geely says has been approved by all relevant regulators, Terrafugia will stay headquartered in the U.S. Read more:Silicon Valley aims to build a flying car


Source: thestar November 14, 2017 18:45 UTC


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