On the morning of April 6, Geely Satellite Internet Project had opening ceremony in the SCO Demonstration zone. The project will build the first global low-orbit satellite constellation in China to create a competitive industry cluster of satellite.
On the occasion of Space Day of China on April 24, 2020, Geely, the first Chinese auto company to independently develop low-orbit satellites, announced that the first Binary Star will experience satellite-launcher combination test in June.
Geely is the second automotive company in the world to enter the space sector after Tesla.
August 8, 2020 is "Geely" day. (Its pronunciation sounds like "auspicious" in Chinese ) On this day, Li Shufu, Chairman of Geely Holding Group, visited Qingdao. He, together with the hosts of Qingdao, witnessed the signing of the cooperation agreement between the Management Committee of the SCO Demonstration Zone and Geely Technology Group's low-orbit satellite Internet project.
A few short months later, with the joint efforts of both parties, this cooperation agreement was complemented.
Explore Trillion-Level Area on Low-Orbit Satellites
Internet market demand is huge, but terrestrial communication is constrained by the cost and price, geographical environment and other factors so that it can not reach 100% coverage. Therefore, it is the trend of the times to develop toward space with satellite networking.
In recent years, the rapid breakthrough of low-orbit satellite Internet technology and fast development of the industry are entering a critical stage before the outbreak.
A research report concluded that in the global satellite Internet market, China is the only market in the world expected to achieve a compound annual growth rate of more than 10% in the next ten years, which can drive related industries to fully realize informatization and intelligentialize. Meanwhile, it can also promote innovation in service, industry, finance and it can drive the development of its related big data industry and create trillions of dollars of industrial value.
Join Hands with Geely to Expand Its Business into Space
With obvious location advantages and the current series of national strategies, Qingdao is embracing major development opportunities. Geely Group will give full play to its advantages in technology and talents, deepen the practical cooperation between the two sides in new infrastructure, new energy vehicles and other fields, accelerate the implement of projects and help Qingdao develop its high-quality industry.
In the era of Internet of everything, whoever masters efficient connectivity will be able to seize advantage and win the competitive initiative. Qingdao, which is accelerating its industrial iteration, is in need of building a Space-Earth Integration Network. It's a good move for Qingdao to join hands with Geely to expand its business into space. (By Fanying)
