03 March 2020
GeeSpace, a subsidiary of Geely Technology Group, plans to invest 2.27 billion RMB (326 million USD) in a satellite manufacturing facility in Taizhou with an annual production capacity of 500 satellites. Still this year it is planned to launch a pair of satellites for the validation of relevant technologies and communications systems for the planned commercial LEO satellite constellation. Geely, one of most prominent China’s indigenous auto brands, has stretched its reaches to various high-tech fields beyond automobile. Founded in 2018, GeeSpace focuses on the R&D of satellite communications system, electronic products, and technologies about communications and data processing.
this news on Reuters webportal