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Volvo's parent company acquires flying car startup

Geely -- the Chinese company who owns Volvo -- has just acquired the startup behind the world's most promising flying car. Known for the impressive vertical takeoff and landing vehicle called the "Transition", Terrafugia is the company that's come the closest to making flying cars a reality. Now, thanks to Geely's deep pockets, it looks like we could soon be seeing winged Volvos soaring over the freeway.