CATL signs deal for Hong Kong R&D hub

CATL signs deal for Hong Kong R&D hub

CATL signs deal for Hong Kong R&D hub 986 652 Energy Storage Journal

December 20, 2023: Chinese battery giant Contemporary Amperex Technology (CATL) is to set up a major R&D hub in Hong Kong as part of plans to invest HK$1.2 billion ($154 million) to promote new energy technology innovation and sustainable development in the territory.

CATL said on December 7 it had signed a memorandum of understanding for the project with the Hong Kong Science and Technology Parks Corporation.

The battery manufacturer will support development of energy storage, e-mobility and renewables, as well as establishing a new global HQ and international investment centre in the territory, although it did not give details.

HKSTP was set up by Hong Kong special administrative region government to boost the deployment of new energy technologies.

The government’s financial secretary, Paul Chan, said CATL’s investment was key to helping businesses in the information and technology sector use Hong Kong “as a gateway to the international stage”.

In April, CATL unveiled plans to achieve carbon neutrality across its battery plants by 2025.

Board secretary Jiang Li told the 20th Shanghai International Automobile Industry Exhibition that carbon neutrality would apply across its battery value chain, including raw materials, by 2035.

Photo: CATL chairman and GM Robin Zeng