Geely Holding Group announced today that Geely is entering the commercial satellite field, and the country's first private enterprise satellite intelligent AIT center was settled in Taizhou, Zhejiang.
The Taizhou Geely Satellite Project officially started today. This is the first domestic pulsed modular satellite intelligent AIT (assembly and integration test) center built by Geely Technology Group in Taizhou.
Geely said it was investing 2.27 billion yuan ($326 million) in the project, where it plans to build low-orbit satellites to provide more accurate data for self-driving cars.
Geely, one of China's most internationally-known companies due to its investments in Daimler, Volvo and Proton, aims to produce 500 satellites a year by around 2025, with around 300 highly-skilled staff, it said in a statement.
Geely said that the Taizhou Geely Satellite Project is part of Geely's overall satellite industrial chain.
Geely strategically invested in aerospace technology company Shikong Daoyu in 2018, and began to deploy an integrated travel ecosystem.
The first two low-orbit satellites designed and designed by Shikong Daoyu independently have passed various qualification tests and tests and are expected to be launched within 2020.
Geely's low-orbit satellite layout will provide high-precision positioning services for high-level intelligent driving. At the same time, it is planned to start the world's first commercial low-orbit navigation enhanced system verification in 2020.