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HKSTP Partners for Innovation and Sustainability

Image Credits: HKSTP, Press Release
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The Hong Kong Science and Technology Park Corporation (HKSTP) and a Chinese all-electric car brand inked a Memorandum of Understanding (MoU) aimed at establishing operations within the Science Park. This partnership signifies a step towards integrating the firm into Hong Kong’s dynamic innovation ecosystem, with a shared vision of advancing the new energy vehicle industry and working towards the ambitious goal of achieving Net-Zero emissions.

At the heart of this collaboration lies the “Hong Kong Innovation and Technology Development Blueprint” announced by the Innovation, Technology and Industry Bureau (ITIB). This blueprint outlines a strategic roadmap for Hong Kong, encompassing the development of new energy vehicles as a key component.

The government’s strategic plan is clear: foster emerging industries like advanced manufacturing and attract prominent enterprises, both from overseas and mainland China, to establish a presence in Hong Kong. In this context, the company stands out as a strategic representative in the innovation and technology sector, and its proactive engagement in Hong Kong underscores the city’s role in facilitating the global expansion of Chinese enterprises.

This MoU enjoys full support and endorsement from various quarters, including the ITIB, other HKSAR Government departments, and the Office for Attracting Strategic Enterprises (OASES). The latter is tasked with drawing in companies that are pivotal in advancing strategic sectors, including advanced manufacturing.

The formalisation of this partnership was witnessed by distinguished figures, including the Secretary for Innovation, Technology, and Industry; the Under Secretary for Innovation, Technology, and Industry; the Director-General of the Office for Attracting Strategic Enterprises; the Chairman of HKSTP; the 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 the Founder and Chairman of the company. The MoU was formally signed by the Chief Executive Officer of HKSTP and the Chief Investment Officer of the company.

The electric car brand, seizing upon Hong Kong’s strategic advantages such as access to capital, favourable tax policies, a rich talent pool, and robust scientific and technological infrastructure, is set to establish its international headquarters in Hong Kong by year-end.

The company plans to make substantial investments ranging from hundreds of millions to billions in RMB and hire 600 research talents over the next five years. Furthermore, the creation of a state-of-the-art smart research and development (R&D) centre spanning over 40,000 square feet is also envisioned. This R&D centre will serve as a magnet for tech ventures and talent within the automotive industry, bolstering Science Park’s innovation ecosystem and fostering collaboration across key industries in Hong Kong and mainland China.

HKSTP has already carved out a thriving innovation and technology ecosystem, boasting a community of over 13,000 research professionals, more than 1,400 technology companies, and a network of over 300 partners. The organisation is poised to offer comprehensive support and infrastructure to facilitate collaboration among stakeholders across academia, industry, and research. Notably, HKSTP’s track record includes nurturing ten unicorn companies within its ecosystem, offering a valuable experience that will aid NETA Auto on its path to innovation and success.

This effort aims to unlock investment potential, tap into the global market, and showcase cutting-edge technology internationally. Simultaneously, it provides support to the firm in its transformation from a domestic Chinese automobile brand to a global technology powerhouse.

The Secretary for Innovation, Technology, and Industry underscored the prominence of new energy vehicles as a burgeoning, world-leading technology industry. By integrating the upstream, midstream, and downstream sectors, new energy vehicles promise to stimulate economic development and create employment opportunities. The Hong Kong Innovation and Technology Development Blueprint earmarks new energy vehicles as a vital area for development, aligning with the government’s vision of establishing Hong Kong as a global innovation and technology hub.

The Chairman of HKSTP articulated the organisation’s role as Hong Kong’s premier research and development hub. HKSTP stands ready to provide top-notch infrastructure and facilities, coupled with an extensive partner network, fostering deeper collaboration between the company and tertiary and research institutions. This collaboration aims to harness Hong Kong’s world-class research, academic expertise, and industry potential, seizing the opportunities presented by the new energy vehicle industry.


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