China injects 620 million euros into local Beidou GPS

by bold-lichterman

The Chinese government has invested 810 million dollars (620 million euros) in the company Beidou (BDS), presented as the satellite navigation system competing with the American GPS.

According to information from China Daily, this new money should in particular be used to set up an area that would welcome 30 to 50 new companies entirely dedicated to the development of the ecosystem. “Beidou”.

Based in Tianjin, this industrial park should welcome the first 20 structures from next June.

Thanks to this device, the Chinese government hopes that Beidou trusts the local market for satellite navigation, estimated at 19.2 billion dollars (14.6 billion euros).

The operation also aims to grant China a certain military independence vis-à-vis foreign technologies, such as the American GPS.

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