Leading Chinese automaker Geely announced on Tuesday that it plans to establish a commercial aerospace company in Guangzhou, seeking to research and develop its own satellite and communications technologies.

The new aerospace company is named Shikong Tansuo Technologies, or “exploration of time and space” in Chinese, and is estimated at more than ten billion yuan ($1.52 billion).  Geely will also cooperate with other rocket companies located in the same district, including Zhongke Aerospace, also known as CAS Space.

The Hangzhou-based carmaker is building low-orbit satellites as demand for high-speed connectivity capabilities that can deliver fast software updates grows. From around 2025, Geely’s cars will offer more functions related to the satellites.