HELSINKI — Geely’s space subsidiary has secured a $281 million investment to accelerate deployment of its Geesatcom Internet of Things constellation and build a new global headquarters.

Zhejiang Spacetime Daoyu Technology Co., Ltd., or Geespace, signed a strategic cooperation agreement with Zhejiang Financial Holdings Investment Co., Ltd., Hangzhou State-owned Capital Investment and Operation Co., Ltd., and Hangzhou High-Tech Jintou Holding Group Co., Ltd., Sept. 19, also securing $281 million (2 billion yuan) from the Zhejiang New Energy Vehicle Industry Fund, according to a company statement .

The funds have been earmarked for the construction of Geespace’s global headquarters and the global business development of the Geesatcom constellation.

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