Hyperdrive
Electric Car Companies From China Are Flocking to Hong Kong
- Cell maker CATL, Hozon have set up in the Asian financial hub
- Firms repatriating funds out of mainland subject to inspection
This article is for subscribers only.
Companies involved in China’s electric car industry are setting up shop in Hong Kong to leverage the city’s financial system for their global expansion, investing over $1 billion so far and creating hundreds of jobs.
The world’s largest battery maker, Contemporary Amperex Technology Co. Ltd., said earlier this month it plans to open its international headquarters in Hong Kong with some HK$1.2 billion ($154 million) and hire 500 employees.