1 Sep 2023

HKSTP and NETA Sign MOU to Jointly Promote Hong Kong’s Emerging New Energy Vehicles Industry

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.

Key Takeaways

  • The partnership between HKSTP and NETA Auto is fully endorsed by and the result of the strategic focus of the ITIB and other HKSAR Government departments and the Office for Attracting Strategic Enterprises (OASES). NETA Auto is proactively setting up shop in Hong Kong, proving the city’s role as a launchpad to pave the path for Chinese tech enterprises to go global.
  • NETA Auto aims to spark positive industry synergies, foster development of the new energy vehicle industry in Hong Kong, and drive global expansion of its brand by leveraging the city’s access to capital, low taxes, talent, scientific and technological advantages.
  • Hong Kong embraces its solid scientific research strength, while tight Mainland integration makes it the ideal launchpad for foreign enterprises connecting to China and Asia.