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