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China tech

China's Geely follows Tesla into space with own satellite network

Carmaker builds AI platform for self-drive autos and other commercial uses

Geely's push into space comes as China's auto industry is suffering from its sharpest decline in three decades as a result of the economic slowdown. (Photo courtesy of Zhejiang Geely Holding Group)

HONG KONG -- China's largest private automaker is following Tesla in an adventure to space, announcing plans to build its own satellite network that will enable better navigation for autonomous vehicles and be used for other commercial applications.

Zhejiang Geely Holding Group, founded by Chinese billionaire Li Shufu, said on Friday that it will launch two satellites into low orbit by the end of this year.

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