Geely will produce satellites for unmanned vehiclesMarch 3, 2020
The Chinese company Geely will invest 2.27 billion yuan (approximately $ 326 million) in the construction of a new enterprise, which will establish the production of low-orbit satellites that can provide more accurate data transmission for autopilot cars. It is reported by Automotive News.
A new plant will be built in Taizhou, where Geely already has its own automobile production. By 2025, the Chinese intend to release up to 500 satellites annually. At the moment, about 300 highly skilled specialists are working on the project.
A network of low-orbit satellites will provide high-speed Internet access, accurate navigation, and cloud services for machines with automatic control systems, the software of which can be updated by air.
Earlier it was reported that the leaders of the Chinese automaker Geely Automobile and its subsidiary Volvo are discussing the possibility of merging into a single company. Geely bought Volvo from Ford in 2010, but the Swedes have since functioned as a separate company. Volvo notes that the business combination will create a powerful international group, as well as increase the level of financial and technical mutual support.
In addition, the merger should strengthen the position of the automaker in the global market in order to compete with larger players, such as Volkswagen or the new PSA and Fiat Chrysler Automobiles alliance, with great success.
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