China's Geely invests R5bn to build satellites for autonomous cars

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China's Geely invests R5bn to build satellites for autonomous cars
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Geely, one of China's most internationally-known companies due to its investments in Daimler, Volvo and Proton, is building the facilities in Taizhou, where it has car plants.

Andrey Armyagov / 123rf

Geely, one of China's most internationally-known companies due to its investments in Daimler, Volvo and Proton, is building the facilities in Taizhou, where it has car plants. It aims to produce 500 satellites a year by about 2025, with about 300 highly skilled staff, it said in a statement. Geespace will begin the launch of its commercial low-orbit satellite network by the end of this year, Geely said.

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