Battery giant CATL on Tuesday launched a 9,000-square-foot (836-square-meter) research and development center in Hong Kong, aiming to initiate 75 projects and recruit 200 professionals — the latest vote of confidence to the city’s growing green technology ecosystem.
The research institute, which represents CATL's sixth facility situated beyond the mainland and Germany, is part of the company’s commitment made last December to invest over HK$1.2 billion ($154.5 million) in the city.
Its operation will align with Hong Kong’s technology drive, with a research focus on strategic areas including artificial intelligence (AI), new energy and new materials, according to the Secretary for Innovation, Technology and Industry Sun Dong.
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The Chinese electric vehicle (EV) battery manufacturer will also collaborate closely with local universities to promote deep cooperation among industry, academia, and research and accelerate the commercialization of research outcomes.
For Hong Kong, the presence of more innovation-driven firms in the city is a key part of efforts to boost its technological strength as the Asian hub looks for new growth engines to drive the economy following the social unrest in 2019 and the years of dealing with the COVID-19 pandemic.
Data from the Innovation, Technology and Industry Bureau show that over 100 technology companies have set up or expanded their businesses in the city in the past two years.
A case in point is that EV maker Neta Auto in August picked Hong Kong as the location for its international headquarters with a focus on smart driving innovations.
Chinese AI firm iFlyTek and its healthcare unit also announced plans to expand their footprint at Hong Kong’s Cyberport, with expected investment topping HK$400 million over the next five years.
Ouyang Chuying, co-president for research and development of CATL, said Hong Kong, as a key global financial and trade center, offers distinct advantages for collaborating with international tertiary institutions, attracting top talent, and building global platforms.
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“The establishment of our international R&D Institute will provide CATL with a solid foundation to thrive in the city, serving as an important platform that connects with the world and harnesses global resources to support the development of our country's new energy industry,” he said.
CATL’s move came one day ahead of Hong Kong Chief Executive John Lee Ka-chiu’s third Policy Address.
Sun said innovation and technology are a crucial driver for Hong Kong to achieve high-quality economic growth, and the government will introduce corresponding policy measures on Wednesday.
