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China's Geely to set up new aerospace company

China's Zhejiang Geely Holding Group plans to set up a commercial aerospace company to develop its satellite and communications technologies in the southern city of Guangzhou, local government said on Tuesday.

  • FILE PHOTO: A building of the Geely Auto Research Institute is seen in Ningbo, Zhejiang province, China August 4, 2017.
  • BEIJING (Reuters) - China‚Äôs Zhejiang Geely Holding Group plans to set up a commercial aerospace company to develop its satellite and communications technologies in the southern city of Guangzhou, local government said on Tuesday.
  • Geely, which owns Volvo Cars and 9. 7% of Daimler AG, will also work with other rocket companies in Guangzhou, the government said.

REUTERS.COM 1 Apr, 2021

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