Geely is aiming to become the first Chinese carmaker to design and build satellites to support its autonomous driving programme, the latest step by founder Li Shufu in his bid to build a global industry leader.
Geely Group, which owns Swedish brand Volvo Cars, Malaysia’s Proton and a stake in Mercedes-Benz owner Daimler, will invest Rmb2.27bn ($325m) in a new development centre and factory to manufacture satellites this year, the company said on Tuesday.
The announcement makes Geely the first known Chinese automaker with plans to build its own satellites. The move by Mr Li sparked comparisons in Chinese media with Elon Musk, the founder of electric carmaker Tesla and private space exploration company SpaceX.
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