aopa:

The acquisition of Terrafugia last fall by privately held Zhejiang Geely Holding Group, a Fortune 500 company with assets “that span the automotive chain,” provided Terrafugia with resources for the expansion, Woburn, Massachusetts-based Terrafugia said in an April 10 news release.

“Technology and innovation are at the core of Terrafugia, drawing in unique talent across departments. The recent jump in staff shows our commitment to breaking ground in the emerging flying car market,” said CEO Chris Jaran, noting that a year ago, Terrafugia had fewer than 20 employees.