Geely finalises purchase of flying car maker Terrafugia

Geely finalises purchase of flying car maker Terrafugia

The Zhejiang Geely Holding Group has completed the purchase of flying car developer Terrafugia for an undisclosed price, and the Woburn, Massachusetts-based company will remain in the United States, according to Automotive News. Initial reports of the flying car company’s takeover surfaced in July, following efforts by other firms such as Airbus and Uber who have also explored flying car projects.

Terrafugia was founded in 2006 by a group of MIT graduates, and is understood to be the furthest along among its peers in its development of flying cars. The company is also the latest in a line of Geely’s acquisitions outside its native China, including Volvo seven years ago as well as a more recent purchase of a 49.9% equity stake in Malaysian automaker Proton, and a 51% stake in British sports car maker Lotus.

The US-based company unveiled the Transition in 2012 with a base price of $279,000 at the time, and received Federal Aviation Administration certification last year. According to Terrafugia, the Transition is able to fly at a cruising speed of around 160 km/h, with a ceiling of 10,000 feet, and a maximum range of about 640 km.

Geely finalises purchase of flying car maker Terrafugia

Terrafugia more recently showed its next model, the TF-X, which boasts more car-like styling and twin electric motors for a total output of one megawatt (1,341 hp). Capable of vertical take-off and landing (VTOL) and also featuring a 300 hp petrol engine, Terrafugia claims a 322 km/h cruising speed at altitude.

Others, too, have been exploring the idea of flying cars. Aeromobil was said to have a model capable of 160 km/h with an on-road range of 695 km, or 745 km airborne with a maximum speed of 357 km/h, while Toyota also filed patents for a shapeshifting, flying car design.

GALLERY: Terrafugia TF-X

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Mick Chan

Open roads and closed circuits hold great allure for Mick Chan. Driving heaven to him is exercising a playful chassis on twisty paths; prizes ergonomics and involvement over gadgetry. Spent three years at a motoring newspaper and short stint with a magazine prior to joining this website.

 

Comments

  • tokmoh. on Nov 14, 2017 at 4:17 pm

    Terrafugia > all

    Well, it really is above all… when it’s flying hewhewhew

    Like or Dislike: Thumb up 11 Thumb down 2
    • I miss Ohwai on Nov 14, 2017 at 5:20 pm

      Geely is really a focused company. Planning for the future.

      They are so focused, they made US$30 billion last year ( RM150 billion). That is billion, not million.

      The year before that, they made US$26 billion. Adn the year before that, US$24 billion.

      Amazing. The company only started in 1997. Such a young company but so focused and hardworking. This is why they are cash rich

      Like or Dislike: Thumb up 0 Thumb down 2
    • Dennis on Nov 14, 2017 at 6:41 pm

      Geely is the Apple of cars. Nokias gonna be left dead soon…

      Like or Dislike: Thumb up 0 Thumb down 0
  • alvin on Nov 14, 2017 at 4:30 pm

    A flying saga is coming on year 2100. hehe

    Like or Dislike: Thumb up 0 Thumb down 0
  • Zacrosky on Nov 14, 2017 at 6:03 pm

    Cool! The Thunderhawk in the old M.A.S.K. cartoon will soon be a reality, haha

    Like or Dislike: Thumb up 1 Thumb down 0
  • Marieta on Nov 14, 2017 at 7:57 pm

    Battery powered? Meh, it gonna be very heavy then, only practical to lift 2 or single (Malaysia standard fat adult) only.

    Like or Dislike: Thumb up 0 Thumb down 0
  • Pelas on Nov 14, 2017 at 8:42 pm

    PLUS must now learn how to toll the skies

    Like or Dislike: Thumb up 1 Thumb down 0
  • Add A Comment on Nov 15, 2017 at 8:31 am

    When Proton can fly?

    – I Have Added A Comment –

    Like or Dislike: Thumb up 0 Thumb down 1
  • calldisc on Nov 15, 2017 at 9:50 am

    Proton. pls oh please rebadge this. but dont sell at 300k lah.

    Like or Dislike: Thumb up 0 Thumb down 1
 

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