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. Geely already tripled its team of engineers in anticipation of the transaction. The company expects to deliver it to the market in 2023. In recent months the company has been aggressively scaling up its engineering force in preparation of the acquisition from Geely.
Geely, which owns a stake in national carmaker Proton, said it had received the necessary approval for the deal, including from the USA government's Committee on Foreign Investment, to take over all of Terrafugia's operations and assets.
Geely says it's investing in Terrafugia to make flying cars a reality.
Sharif challenges accountability court's decision
The deputy prosecutor general also submitted a compliance report regarding the process of declaring them absconder. Judge Mohammad Bashir had issued non-bailable arrest warrants against them on Oct 2, which are still in effect.
Chris Jaran, Terrafugia's newly appointed CEO, said the expansion of the company's R&D capabilities would be prioritized, according to Xinhuanet.
Meanwhile, founder of Terrafugia, Carl Dietrich, said: "We started Terrafugia with a vision to change the future of transportation with practical flying cars that enable a new dimension of personal freedom". "Now as part of Geely Holding Group, I am confident that we can reach that vision and subsequent commercial success by utilizing the groups' shared global synergy". It closed the day at HK$28.2, or 6.4% higher than Monday. It produces the Transition flying vehicle and also develops technologies for automated hybrid flying cars, like the TF-X. Geely isn't even the first automaker to be associated with flying cars.
Saudi UN ambassador denies Yemen embargo
He said that the first step in this process will begin in 24 hours and would involve the seaports of Aden, Mocha and Mukalla. On one side of the conflict, Houthi rebels who deposed a Saudi-allied government.
Pixel 2 XL Can't Get Their Display Right
Now, it has come to light that the device's camera isn't playing nice when it comes to surroundings with LED lights on. The Pixel 2 rear camera picks up major banding when taking photos in LED lighting.
Trump lands in Philippines, final stop in Asia
When the reporters asked Trump whether he would raise human rights at the meeting, Duterte replied with: "Whoa, whoa". Human Rights Watch said that even children are being targeted and described the issue as a "new level of depravity".
We won't take Sri Lanka lightly: Rahane
Every series is very important. "Every match is important and poses a different challenge, there's nothing like preparation. Training is very important as well as the recovery. "The team management has decided that anyone can give a feedback".
FDA approves pill with sensor
The new product, which will be sold as Abilify MyCite, can be swallowed just like any other pill. A resubmission of the new drug application was accepted by the agency in May 2017.