OK, this is probably one of the easiest titles to pull off — “Geely buys Terrafugia and takes to the skies.” The consequences of one of the biggest carmakers in the world continuing its buying spree, this time with a vertical take-off and landing (VTOL) startup, are interesting and revealing. China is still very determined to build its transportation industry in order to better compete in the international arena.
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Geely started out as a refrigerator producer in 1986. It has owned Volvo Cars since 2010 and The London Taxi Company since 2012. It has finally finished the acquisition of Terrafugia it started last year, according to the South China Morning Post.
