Woburn, MA based Terrafugia announced a partnership with CEVT (China Euro Vehicle Technology AB) in a Tuesday press release. The partnership intends to aide bringing the Transition flying car to market. “The combination of CEVT’s advanced engineering capabilities and automotive experience with Terrafugia’s expertise in innovative air mobility will take Geely to the sky providing vehicles for both ground and air transportation,” stated Chris Jaran, CEO of Terrafugia.
The partnership intends to add resources to the Transition vehicle – specifically, CEVT will aid production of clutch-box, CAE, and high-tech safety systems, benefiting Terrafugia from the “long automotive engineering experience and expertise in Gothenburg and Sweden”.
Why it’s important: The partnership between CEVT and Terrafugia is a strategic move executed by Geely Holdings, a Chinese holding company which acquired Terrafugia in mid-November 2017. Geely’s involvement with the flying car industry is more developed than readily apparent, having also invested in Swedish automaker Volvo and running Geely Auto prior to the acquisition. Read TUP’s article profiling Geely here.
- Terrafugia Press Release
- Image: AOPA