Elon Musk

SpaceX and Tesla Motors founder Elon Musk is reportedly looking to launch 700 satellites weighing less than 250lb into space, to provide internet connectivity to remote corners of the world.

Sources familiar with the matter were quoted by The Wall Street Journal (WSJ) as saying that Musk has partnered with former Google executive Greg Wyler.

Musk and Wyler are in negotiations with Florida and Colorado officials to build a satellite factory and are seeking a partner with expertise in the satellite industry, sources told the agency.

The proposed project is estimated to cost around $1bn.

If the plans proceed, the satellite constellation will be the largest-of-its-kind and each satellite would be half the size of the existing smallest communications satellite and cost less than $1m.

"The proposed project is estimated to cost around $1bn."

Wyler is the founder of WorldVu Satellites, which holds rights to manage a radio spectrum that the satellites could use to provide internet connectivity.

The satellites could be launched aboard SpaceX rockets, the sources told WSJ.

SpaceX has so far launched a dozen of its Falcon 9 rockets and plans to carry out more than four-dozen missions until 2018.

Google and Facebook are also working on technologies to offer internet services to far flung areas through satellites, drones and high-altitude balloons.

Image: Elon Musk and President Barack Obama at the Falcon 9 launch site. Photo: courtesy of Bill Ingalls / Nasa.

Defence Technology