Chinese automaker and Volvo’s parent company, Geely, has been confirmed as the prime sponsor and official automotive partner of the Bloodhound SSC project.

Confirmation of the deal comes after the project to build a vehicle capable of 1,000 mph (1,600 km/h) was delayed nine months ago due to a lack of funds. While Geely’s financial investment into the project isn’t known, the Bloodhound team says that its plans to set a new land speed record in 2017 are back on track.

Next year, Bloodhound project director Richard Noble wants to see the vehicle undergo shakedown trials at Newquay airport in the UK. If these tests are successful, the Bloodhound SSC will head to South Africa’s Hakskeen Pan in an attempt to reach 800 mph (1,287 km/h), beating the current land speed record of 763 mph (1,227 km/h). The following year, the team plans to beat its own record at Hakskeen Pan by exceeding 1,000 mph (1,609 km/h).

According to Noble, “We could not have a better partner than Geely: not only are they an international technology company with tremendous vision and capability, they share our passion for innovation and education. Their support, both technical and financial, means we can now plan next year’s record-breaking challenge with confidence. It also means we can take our STEM inspiration message to a vast new audience, which is great for science and engineering but also for promoting Great Britain.”

Chairman of the Zhejiang Geely Holding Group, Li Shufu, extended on this by underlining the similarities between the two.

“We are proud and excited to be part of this extraordinary team. Geely shares the same challenging spirit and passion for pushing technological barriers as the Bloodhound Project,” he said.

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