Geely launched 11 satellites for its Geesatcom constellation on August 9, 2025, from waters near Rizhao, Shandong province, China.

The automaker, based in Hangzhou, is building a low Earth orbit satellite network through its aerospace subsidiary Geespace.

This latest deployment brings Geespace’s total in-orbit satellites to 41, with a first-phase goal of 72 by the end of 2025.

The satellites aim to expand global coverage for IoT applications, focusing on connected vehicles, urban air mobility, emergency response, and maritime operations.

Geespace has partnerships with telecom operators in over 20 countries across the Middle East, Southeast Asia, Africa, and Latin America.

Further deployments are planned in the coming months to enhance its connected mobility infrastructure.

🔗 Source: Geely

🧠 Food for thought

1️⃣ Satellite IoT market commands premium pricing despite small scale

The satellite IoT market remains tiny compared to terrestrial networks but generates significantly higher revenue per connection.

With only 7.5 million satellite IoT connections globally in 2024, representing just 0.04% of all IoT connections, operators charge $40-70 per device monthly, far exceeding typical cellular IoT rates1.

This premium pricing reflects the unique value satellite connectivity provides in remote areas where 80% of Earth’s surface lacks cellular coverage2.

The market is projected to grow from $2.24 billion in 2025 to $5.52 billion by 2030, indicating strong demand despite the higher costs3.

LEO satellites now dominate this space, with 63% of operators choosing low-Earth orbit constellations over traditional geostationary satellites due to their lower latency and higher data transmission capabilities1.

2️⃣ Geely’s seven-year satellite development strategy positions it for market timing

Geely began building its space capabilities in 2018 through Geespace, well before the current satellite IoT boom became apparent to most automotive companies4.

Recent Geely developments