NETA Auto signs MOU with HKSTP, establishing international headquarters in Hong Kong

"As an important booster of China's auto sector, NETA will work with HK government under the MOU to support China's strategic emerging industries and make China-made new-energy vehicles available in the world," noted Fang Yunzhou. "As an important booster ofChina'sauto sector, NETA will work with HK government under the MOU to supportChina'sstrategic emerging industries and makeChina -made new-energy vehicles available in the world," noted Fang Yunzhou. As NETA Auto has advanced in...

"As an important booster of China's auto sector, NETA will work with HK government under the MOU to support China's strategic emerging industries and make China-made new-energy vehicles available in the world," noted Fang Yunzhou.

As NETA Auto has advanced in product, technology and internationization after years of development, which is now embracing a new stage of global development, HK becomes its first-choice access to enhance international cooperation. Under the MOU, the company will gain an edge to unleash its investment potential and fit into global value chains leveraging HK's status as an international business hub, while stepping up efforts to go global.

Sun Dong said: "As a focus in world's technology industry, new-energy vehicle sector has the edge to connect all sectors across the industrial chain, attracting all sorts of cutting-edge technology R&D projects. HK government is resolute in building HK into an international I&T center, with a vision for high-quality development and new industrialization."

Under the MOU, NETA Auto will establish an international headquarters at the HKSTP. It also plans to invest approximately RMB3.2 billion in five years, building an over-40,000sqft intelligent R&D center and a big data center, and hire some 600 R&D staff. By doing so, it aims to attractive more I&T talents to the HKSTP to help connect HK with mainland China based on industrial chain. In addition, NETA Auto will seek a US$200 million equity investment. Gathering over 13,000 researchers and nearly 1,400 I&T firms with over 300 partners and a complete I&T ecosystem, the HKSTP, which has shored up over 10 unicorn companies, will drive business growth for NETA Auto with its rich experience.

The partnership will advance NETA Auto from a Chinese carmaker into a global tech company. Moreover, it will uplift the value of Chinese auto brands worldwide, while enhancing global impact of China's auto sector in intelligentization and new energy segments.

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