(Hong Kong, 1 September 2023) – The Hong Kong Science and Technology Park Corporation (HKSTP) and Hozon New Energy Auto Co., Ltd. (NETA Auto) have signed a Memorandum of Understanding (MoU) to establish operations at Science Park and join the vibrant innovation ecosystem in Hong Kong, to advance Hong Kong’s new energy vehicles industry and mission to achieve Net-Zero emissions.
The Innovation, Technology and Industry Bureau (ITIB) recently declared its "Hong Kong Innovation and Technology Development Blueprint" which includes development of new energy vehicles as part of the government’s strategic plan to foster new industries such as advanced manufacturing and attract key enterprises from overseas and mainland China into the city. NETA Auto has been identified as a strategic representative I&T company with high potential, hence its proactive establishments in Hong Kong, is strong endorsement of the city’s role in paving the path for China enterprises to go global.
The MoU between HKSTP and NETA Auto is fully endorsed and backed by the ITIB, other HKSAR Government departments and the Office for Attracting Strategic Enterprises (OASES), which is tasked to attract representative companies that advance strategic sectors like advanced manufacturing. Under the theme of “Innovation Manufacturing and Propelling Endless Possibilities”, the formal partnership was witnessed by Professor Sun Dong, Secretary for Innovation, Technology and Industry; Ms Lillian Cheong, Under Secretary for Innovation, Technology and Industry; Mr Phillip Yung, Director-General of Office for Attracting Strategic Enterprises; Dr Sunny Chai, Chairman of HKSTP; Mr Ouyang Minggao, Member of the Standing Committee of the Chinese People’s Political Consultative Conference (CPPCC), Academician with the Chinese Academy of Sciences, Professor at Tsinghua University, and Deputy Director of the Academic Committee of Tsinghua University, and Mr Fang Yunzhou, Founder and Chairman of NETA Auto. The MoU was signed by Mr Albert Wong, Chief Executive Officer of HKSTP and Ms Evonne Ching, Chief Investment Officer of NETA Auto.
Taking advantage of the city’s access to capital, low taxes benefits, talent, scientific and technological advantages, NETA Auto will establish its international headquarters in Hong Kong by the end of this year with a plan to invest hundreds of millions to billions in RMB and recruit nearly 600 research talents over the next five years. In addition, a smart research and development (R&D) centre of over 40,000 square feet will be established to attract more tech ventures and talent in the automotive industrial chain to join Science Park’s innovation ecosystem and further strengthen cooperation across key industries in Hong Kong and the Mainland. HKSTP has already established a thriving I&T ecosystem with over 13,000 research professionals, over 1,400 technology companies and more than 300 partner networks. HKSTP will offer comprehensive support and infrastructure to drive collaboration among stakeholders across the industry, academia and research sectors. HKSTP has for many years provided unwavering support to nurture 10 unicorn companies within its ecosystem. Such experience will help to assist NETA Auto in its journey to innovation and success.
The collaboration between HKSTP and NETA Auto will set out a multi-pronged approach to unlock the investment value of the corporation and open up the global market, bringing cutting-edge technology to the international stage, at the same time, supporting NETA Auto to transform from a Chinese Automobile brand to a global technology company.
Professor Sun Dong, Secretary for Innovation, Technology and Industry, said, "New energy vehicles are now in the spotlight as an emerging world-leading technology industry. By integrating the upstream, midstream and downstream sectors, new energy vehicles will spur economic development and provide employment opportunities. According to the Hong Kong Innovation and Technology Development Blueprint, new energy vehicles has been identified as a significant development area. The Government is committed to establishing Hong Kong as an international I&T hub, and realising high quality development and fostering new industrialisation. The Central People’s Government has recently promulgated the ‘Development Plan for Shenzhen Park of Heta, Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone’, signifying Hong Kong's accelerated I&T development. With unwavering support from the Motherland and being closely connected to the world, I firmly believe that Hong Kong will swiftly achieve its goal of becoming an international I&T hub for a coordinated development with the Mainland GBA cities.”
Dr Sunny Chai, Chairman of HKSTP, said, “HKSTP is the city’s largest R&D base, providing high-quality infrastructure and facilities as well as a vast network of partners, it aims to foster greater collaboration between NETA Auto and tertiary and research institutions to unite Hong Kong’s world-class research, academic and industry potential, embrace the opportunity brought by the new energy vehicles industry and achieve a win-win collaboration. We hope this partnership with market-leading EV maker NETA can forge new links between the Chinese and Hong Kong advanced manufacturing industries, bringing in more upstream and downstream corporates from the new energy automobile industry value chain to invest into Hong Kong, as well as attract top quality talent to advance their careers in our city.”
Mr Fang Yunzhou, Founder and Chairman of NETA Auto, said, “As the first Chinese new automobile manufacturing brand to sell over 150,000 vehicles a year, NETA Auto is expanding from China to the world. By establishing our international headquarters at Science Park, NETA Auto will take full advantage of Hong Kong’s competitive edge as an international financial hub and innovation incubation ground which supports the development and enhancement of the new energy vehicles industry in Hong Kong, achieving the vision of ‘Make intelligent EVs for all’ and creating a better smarter and environmentally-friendly lifestyle.”
Strategically located in East Asia and connected to the rest of the world, Hong Kong is a global hub for finance, trade, information and technology sectors. The partnership between NETA Auto and HKSTP is well timed and will allow in-depth collaboration in key areas such as industrial value chain development and equity, while further promoting the implementation of the partnership.” Fang added.
