Contemporary Amperex Technology (CATL), the world’s biggest maker of batteries for electric vehicles (EVs), will set up a research and development centre in Hong Kong.
As per the firm, the establishment of the centre would mark another win for a push by authorities to turn the city into an innovation hub. The CATL centre will be established at the Hong Kong Science Park and is expected to recruit about 500 staff and begin operating next year at the earliest, according to a government source.
The firm said that the new centre will be located in a tech hub at the Lok Ma Chau Loop, near the border with mainland China.
The company is a giant in the industry, and it aligns with the city’s development strategy to encourage the use of vehicles powered by clean energy, as per the reports.
“Research and development are a start, production in the city is the next step for exploration, “said the reports.
Furthermore, it is reported that wider details are expected to be revealed in a ceremony this week, when CATL, the Fujian-based EV battery giant, will sign a memorandum of understanding with local authorities.
While Financial Secretary Paul Chan Mo-po is reported to have met the company’s representatives earlier this year to discuss possible investments in Hong Kong. It may be noted that CATL has a major share in the global EV battery market, as per market analysis. Its major clients are Volkswagen AG, BMW, Nissan Motor and Tesla.
