Geely, the Chinese auto giant which is Volvo's parent company has acquired Terrafugia (the company behind the Terrafugia TF-X, the world's first fully-automated electric flying car concept). The TF-X is known for its vertical take-off and landing, utilizing a turbine and fans for movement. Check out the post HERE!
However, a fully-built and functional model of its flying car is the Transition. Although not as streamlined as the TF-X concept, it's an impressive prototype. These concepts and ideas were conceived way back since 2014 and it seemed the ideas had died down, but thankfully a larger company has come to rescue.
Geely perhaps must've seen the future with the flying car and thus showed interest in acquiring the startup behind the concept for further development of the flying car technology.
Here's a video showing the Transition as it operates. Very interesting prototype.