Chinese carmaker Geely Holdings Group will launch commercial satellites in 2021, Report mentions, citing Xinhua.
China's State Development and Reform Commission has approved satellites' production at a plant owned by Geely Technology Group.
Thus, Geely will become the first carmaker in China to produce commercial spacecraft.
The first batch of equipment has already been delivered to the plant in Taizhou, in the eastern province of Zhejiang. Production is expected to begin in October this year. The design capacity of the plant will exceed 500 satellites per year.
The company has announced the creation an industrial chain covering the development, production, release, and spacecraft market applications.
Geely Holdings Group is a global automotive group with several well-known brands such as Geely Auto, LYNK & CO, Volvo Cars, Lotus Cars, Polestar, London Electric Vehicle Company (LEVC), and others. It has more than 52,000 employees.