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

Geely Holdings 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, Terrafugias 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. Terrafugias first product, the Transition, will enter the market in 2019. Terrafugias next generation concept is the TF-2, a VTOL aircraft for cargo and passenger loads. To learn more please visit, www.terrafugia.com.


Danielle Kershner
Marketing Manager
Terrafugia, Inc.
781-491-0812 ext.128


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