Volvo’s Chinese Owner Buys Into Flying Cars Chinese carmaker Geely, the owner of Volvo and Lotus, has purchased flying-car developer Terrafugia, reports the South China Morning Post. Automotive industry observers are puzzled by the move, but the deal could position the Hangzhou-based company to enter the embryonic urban air transport market. Formed in Woburn, Massachusetts, in 2006, Terrafugia is developing the Transition, a two-seat, folding-wing aircraft that can be driven on the ...

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