According to foreign media reports, China Geely Automobile acquired the Terra Fugia Flying Car Corporation of the United States and has passed approval from relevant U.S. agencies. After the acquisition is completed, it is likely to invest in factories in China.
The founding team of MIT graduates initially began building a self-propelled flying vehicle for the “flyable aircraft†Terrafugia. After several years of research and development, the first prototype of the Transition was successfully tested in 2009. 2025 will be able to shape. Previously, the company named Terrafugia was founded in 2006 and has been quietly developing a flying car for 11 years. It is one of the three largest flying car companies in the US and has done a lot of preliminary work on the industrialization of flying cars. Its flying car is the first flying car to get a license from the United States.
Although the company is not known, it has launched the flagship Transition. This flying car is like an aircraft equipped with large tires and folding wings. Of course, such products are only suitable for near-and-small airports. Drivers cannot get on the road and they must have a very large garage.
Therefore, Terrafugia considers the future launch of a vertically-flight automatic flying car. This product can help drivers solve some problems, such as without spending too much financial energy to test the flight license, in addition to its home does not have to spend a lot of money to build the runway.
In 2013, Terrafugia had raised 10 million U.S. dollars for angel round investment, and later the U.S. defense contract also pulled out 1.25 million U.S. dollars in financial support. Subsequently, in order to seek development, the company has access to a number of capital companies in the United States and China. Carl Dietrich, the founder of Terrafugia, has repeatedly asked for help in China because of funding issues.
After Geely acquired Volvo, it also owns the London taxi company, the vast majority of Lotus shares and Proton brand. Geely's plan for the development of flying cars began at least five years ago, but it has not been implemented due to the immature market and technology. However, Geely has always been interested in flying car projects. Li Shufu has already set up related research and development departments for flying cars within the Group since early 2016 and has selected engineers from around the world.
After the two parties met two years ago, Geely initiated negotiations with Terrafugia on the acquisition in 2016. It was finally decided that Geely would control most of the company's shares and that China would dominate the management of the company and its future development. As the company involved cutting-edge technology, after a year of waiting, the relevant US departments finally passed the review and agreed that Geely acquired Terrafugia.
However, Geely did not respond to specific acquisition details, but according to informed sources, the transaction is not large. As a small company, Terrafugia took a long time to bring its products to market, but there was no case of successful production car transactions. If the transaction goes well, the company's cultural integration is perfect, Geely's support and car manufacturing facilities can greatly enhance Terrafugia's vision.
However, some commentators have stated that it is still unclear whether China's domestic policy environment is more favorable to flying cars than the United States. Terrafugia has made good progress with the Federal Aviation Administration of the United States in recent years, and China’s current traffic situation also urgently needs a more innovative mode of transportation, and China’s current innovation attracts global attention in robotics, AI and other fields. China’s The acceptance of new forms of products may have exceeded the imagination of the world.
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