Geely to Invest $326 Million in Satellite Manufacturing Plant
HONG KONG — Geely Automobile Holdings Ltd. said it is investing $326 million in a new satellite manufacturing plant in China in efforts to provide more accurate data for autonomous vehicles.
The Hong Kong-based car manufacture intends to construct low-orbit satellites in Taizhou, according to a statement. The low-orbit satellites can offer high-speed internet connectivity, highly precise navigation and cloud computing capabilities. The new facility will include a modular satellite manufacturing center, satellite testing center, satellite research and development center and cloud computing center.