Terrafugia, Inc. to bring the first practical flying car to market

Terrafugia, Inc. To Create 130 New U.S. Jobs

Geely Holding's acquisition leads to expansion across all departments
Woburn, MA – April 10, 2018 –

Terrafugia, Inc. created 75 new US-based jobs within the past 12
months and is on track to add at least another 50 more by the end of
the year. Zhejiang Geely Holdings Group (Geely Holding), a privately
owned Fortune 500 company with assets that span the automotive chain,
acquired Terrafugia in Fall 2017 affording Terrafugia the bankability
and resources to expand its operations and industrial footprint.

“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
Chris Jaran, CEO of Terrafugia. “One year ago, we had less than 20
employees. With Geely Holdings’ leadership and innovation in the
automotive space, we are able to build the team we need to meet
on-time deliverables.”

Terrafugia celebrates significant capacity expansion at its
headquarters in Woburn, MA with positions in engineering, accounting,
human resources, marketing and operations. The company also opened a
new R&D division in Petaluma, CA where all new engineering designs and
concepts are being created. Terrafugia predicts that a large portion
of the expected growth will help the company bring the first practical
flying car to market.

Terrafugia is actively recruiting for several positions. For
information on open positions please visit,
www.terrafugia.com/careers.

About Terrafugia, Inc.: Terrafugia, Inc. is a wholly-owned subsidiary
of Zhejiang Geely Holding Group (Geely Holding), a global automotive
group that owns several well-known international automotive brands.
Terrafugia was founded in 2006 by five award- winning MIT graduates,
with the mission of creating practical flying cars that enable a new
dimension of personal freedom. Today, Terrafugia’s team of experienced
engineers, designers, certification experts, and business
professionals combines aviation and automotive expertise in pursuit of
a common vision to disrupt the transportation industry. Terrafugia’s
first product, the Transition®, will enter the market in 2019.

Terrafugia’s next generation concept is the TF-2, a VTOL aircraft for
cargo and passenger loads. To learn more please visit,
www.terrafugia.com.

Media Contactanielle KershnerMarketing ManagerTerrafugia,
781-491-0812 ext. 128 ? ? ? ?
Terrafugia Inc. | 23 Rainin Road, Woburn, MA 01801
----------------------

https://www.terrafugia.com/about-terrafugia/

Five award-winning MIT graduates founded Terrafugia in 2006. Today,
Terrafugia’s team of experienced engineers, designers, certification
experts, and business professionals combines aviation and automotive
expertise in pursuit of our common vision for the future of personal
transportation.

The Transition® http://www.terrafugia.com/the-transition/ is the
world’s first practical flying car. It offers the convenience of
driving and the speed of flight, and will incorporate autonomous
technologies that will make the Transition® safer than any other small
aircraft in the sky. Terrafugia has already developed and flown two
full-scale prototypes, and has received all of the special legal
approvals necessary to bring the Transition® to market in the US.
Reserve yours today!

Viceo: http://v.youku.com/v_show/id_XOTM0Nzk4MzA0

Cruise Speed: 100 mph
Useful Load: 500 pounds
Range: 400 miles
Maximum Altitude: 10,000 feet
Engine: Rotax 912iS
Fuel Burn (at cruise): 5 gph
Dimensions (Drive Mode): 6.5’ x 7.5’ x 19.5’
Dimensions (Flight Mode): 6.5’ x 26.5’ x 19.5’


Vision for the Future

Terrafugia’s vision for the future is the TF-X™: a mass-market flying
car with the potential to revolutionize the way we all get around. An
all-electric vehicle with vertical takeoff and landing (VTOL)
capabilities and computer-controlled flight, the TF-X™ is the flying
car of the future. Terrafugia’s product development roadmap lays the
groundwork for achieving this vision through a series of realistic
steps over the coming decades.