EU plans to spend billions on satellite fleet to rival Musk

The European Union has revealed its most detailed plans yet for a low-earth orbit satellite system worth billions of euros and aimed at delivering secure communications for the bloc.

The project will cost an estimated €6 billion in both public and private money. The European Commission plans to spend €2.4 billion from its budget, while the rest would come from EU countries and industry.

The UK is now part of a consortium which includes the Indian conglomerate Bharti Global, SoftBank Group and French satellite operator Eutelsat. It’s put two thirds of an initial phase of 648 satellites into orbit. Luxembourg Times