Visedo focuses on Asia's EV revolution with new Hong Kong office
Hong Kong (HKSAR) - Finnish manufacturer of heavy duty electric powertrains Visedo today (April 19) opened a regional office in Hong Kong focused on hastening the transition to hybrid and electric vehicles across the Asia-Pacific region.
The CEO of Visedo, Mr Kimmo Rauma, said that the new subsidiary in Hong Kong can assist the company to expand into emerging markets in the Asia-Pacific region amid fast-growing demand for electric vehicles, especially in Mainland China. This follows the company's recent signing of a letter of intent with venture capital and private equity fund management company Beijing Capital Investment to help Visedo access the Mainland's booming electric vehicle market.
Visedo Asia's office in Hong Kong will focus on delivering hybrid and electric powertrain solutions for three segments: land transport, marine vessels and heavy duty machinery – in markets across Mainland China, Hong Kong, Taiwan, Macau, Japan, Korea and Australia, as well as Southeast Asian markets like Singapore.
Mr Rauma said, "Since 2012 we've understood that markets across Asia-Pacific present a unique opportunity in the race to electrify transport, not only for potential sales but for the beneficial impact such a transition will have on local populations.
"With roadside and marine-based pollution blamed for causing thousands of premature deaths across the region each year, Visedo is proud to be electrifying more commercial and heavy duty transport solutions, such as Asia's first hybrid electric ferry in Taiwan launched earlier this year."
The Managing Director of Visedo Asia, Mr Tony Wong, said that the company has been active in Asia over the past five years collaborating in several major prototype projects in the region. He added, "Visedo Asia has many goals for the future, including continuing to pursue series production orders, supporting our customers locally and confirming local manufacturing partners for the development of hybrid and electric vehicle powertrains.
We estimate that half of the company’s worldwide revenue will come from Visedo Asia within five years."
Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mr Charles Ng said, "Hong Kong offers an important strategic location for Visedo to take its technology to the heart of Asia and importantly to Mainland China, especially as corporates and governments in the region are becoming increasingly aware of their environmental responsibilities. Visedo's design and manufacturing expertise will help speed up the transition of more eco-friendly hybrid and electric commercial and heavy duty vehicles in Hong Kong and across the region."
Founded in 2009, Visedo is a Finnish manufacturer of heavy duty electric powertrains for the marine industry, commercial vehicle and heavy-duty machinery sectors. Visedo powertrains are suitable for hybrid and electric systems within the power range of 30 to 2 000 kilowatts.
Visedo's head office is located in Lappeenranta, Finland, and the company has subsidiaries in the Netherlands and Hong Kong. Visedo has a broad, international client base, with exports to Europe and Asia representing 90 per cent of its sales. More information is available at http://www.visedo.com" target="_blank">www.visedo.com.
InvestHK is the department of the Hong Kong Special Administrative Region Government established in 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong.
It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. For more information, please visit http://www.investhk.gov.hk" target="_blank">www.investhk.gov.hk.
Published on: 2017-04-19
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