Chinese automaker Geely Group has launched a 4.12 billion yuan ($636 million) low-orbit satellite project for the Internet of Things, aiming to build a world-leading IoT demonstration project located in Qingdao, Shandong Province, according to the Qingdao Daily.
The project is undertaken by Geely's subsidiary Zhejiang Space & Time Daoyu Technology Co. The company has been entering the space satellite sector since 2018, covering the entire industry chain from R&D, manufacturing to the application, and planning comprehensively in the commercial space sector.
Geely Group's two independently developed low-orbit satellites have successfully passed the review, yet the specific launch time has not been disclosed to the public.
Geely plans to set up an aviation group next in order to build a "space and Earth integration" travel ecology and to provide systematic services for future high-level intelligent driving.