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Geely plans to launch hundreds of satellites to guide autonomous cars

BEIJING — China's Zhejiang Geely Holding Group said on Tuesday it was investing 2.27 billion yuan ($326 million) in a new satellite manufacturing plant, where it plans to build low-orbit satellites to provide more accurate data for self-driving cars. Geely, one of China's most internationally-known companies due to its investments in Daimler, Volvo and Proton, is building the facilities in Taizhou, where it has car plants. It aims to produce 500 satellites a year by around 2025, with around 300 highly-skilled staff, it said in a statement. Geely's technology development arm, Geely Technology Group, launched Geespace to research, launch, and operate low-orbit satellites in 2018. Geespace will begin the launch of its commercial low-orbit satellite network by the end of this year, Geely said. Geely said low-orbit satellites would offer high speed internet connectivity, precise navigation, and cloud computing capabilities to cars with autonomous driving technology. Geely, which sold 2.18 million cars last year, is among global automakers from Tesla to Toyota to pursue autonomous driving technologies. It is building low-orbit satellites to meet demand for high-speed connectivity capabilities that can deliver fast software updates. From around 2025, Geely's cars will have more functions to connect to the satellites. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Green Plants/Manufacturing Mercedes-Benz Volvo Emerging Technologies Autonomous Vehicles

Mercedes-Benz S500 Plug-in Hybrid ready for 'major role' in urban areas

We finally got a clear look at the Mercedes-Benz S500 Plug-in Hybrid at the Frankfurt Motor Show last fall, but it took until this week to learn what the vision (see what we did there) is that Mercedes-Benz has for the PHEV. Despite it's generous size, Mercedes thinks this is a vehicle that will work well in urban areas. Speaking to members of the media during the Detroit Auto Show, Thomas Weber, Daimler AG management board member and research and development chief for Mercedes-Benz cars, said that the S500 PHEV, "will play a major role in congested areas" and that it will offer "a lot of driving pleasure." Part of that pleasure will come from a 0-62 mile-per-hour time of around 5.5 seconds thanks to a turbocharged, 3.0-liter V6 and an 80-kilowatt electric motor. The PHEV also has a 19-mile EV range, which will put it at the bottom end of the Three-Pointed star plug-in lineup. The upcoming C-Class plug-in, for example, will likely go, "closer to 50 km [31 miles]," Weber said, according to Green Car Reports. The S500 PHEV will go on sale in Europe later this year and will come to the US in early 2015 but there is no timeline, yet, for the C-Class plug-in (and the standard gas-electric hybrid version) or the even-more-future E-Class hybrids. Featured Gallery 2014 Mercedes-Benz S500 Plug-in Hybrid: Frankfurt 2013 View 22 Photos News Source: Green Car ReportsImage Credit: 2014 Jonathon Ramsey / AOL Green Detroit Auto Show Mercedes-Benz Electric Hybrid PHEV s500

Veneno Roadster, One:1, One-77, LaFerrari, P1, Veyron headline 25-car Bonham's auction

Bonhams is holding a no-reserve auction in fall 2019 that includes some of the most valuable and sought-after supercars of the past decade. The lot of 25 beautiful collector items includes a Lamborghini Veneno Roadster, a Koenigsegg One:1, an Aston Martin One-77, a Ferrari LaFerrari, a McLaren P1, and a Bugatti Veyron. The collection, which was seized from a corrupt politician from Equatorial Guinea, is valued at roughly $13 million. If selling off future classics that are still in their infancy as collector items seems strange, it's because this is not a straightforward situation. These cars will be sold off by the State of Geneva, not a person. The collection was previously owned by the vice president of Equatorial Guinea, Teodoro Obiang, but the cars were seized when he was placed under investigation for money laundering and unfair management of public interests. These 25 cars, which were located in Geneva, were first sequestered in fall 2016. A trial court ordered them sold off, and the money earned from the sales would be invested in social programs that benefit Equatorial Guinea. And so, Equatorial Guinea is about to see an influx of cash, as every vehicle is valued in the hundreds of thousands, if not millions, of dollars. The rarest might be the Koenigsegg One:1. One of only six remaining, it has 371 miles on the dial, and is valued at roughly $1.8 million. The Lamborghini Veneno Roadster, one of nine in the world, is a close second. It has 202 miles logged, and is valued at about $5.1 million. The Aston Martin One-77 is another rare bird. It is example No. 35 of 77, holds a 7.3-liter V12 engine, and is valued at about $1.4 million. A McLaren P1, Ferrari LaFerrari, and Bugatti Veyron 16.4 round out the top of the list. The remaining cars are not fully detailed, but they include examples from Mercedes-Maybach, Bentley, Maserati and Porsche. The auction will take place on Sunday, Sept. 29, at the Bonmont Golf & Country Club near Lake Geneva. For more photos and information, visit Bonhams.