Li Auto sets up overseas headquarters in Hong Kong, plans active local expansion
Li Auto established its overseas headquarters in Hong Kong earlier this year and is now actively planning to further expand its Hong Kong operations.
- Li Auto established its overseas headquarters in Hong Kong earlier this year and is now actively planning to further expand its Hong Kong operations.
- Li Auto will use Hong Kong as a strategic base to coordinate the globalization of its R&D, intellectual property management, and international supply chain operations.
Li Auto (NASDAQ: LI) established its overseas headquarters in Hong Kong earlier this year and is now actively planning to further expand its Hong Kong operations and grow its local team, Invest Hong Kong announced in a press release today.
The electric vehicle (EV) maker will use Hong Kong as a strategic base to coordinate its global R&D, intellectual property management, and international supply chain operations while expanding overseas business, the press release stated.
The overseas headquarters will assume multiple functions, including serving as Li Auto's overseas investment, financing, and capital management center; an international intellectual property management and technology standards export platform; a global R&D collaboration hub; a global talent recruitment and training base; and an international supply chain coordination center.
Hong Kong, as an international financial center and hub for technological innovation, will empower Li Auto to achieve greater breakthroughs on the global stage, said Wang Tianqi, the company's director of financial compliance.
Li Auto is among the later entrants among China's EV startups to expand into overseas markets. Its domestic peers Xpeng (NYSE: XPEV) and Nio Inc (NYSE: NIO) began exploring international markets several years ago.
The company appears to have recently intensified its efforts to expand internationally.
On October 14, Li Auto announced the opening of its first overseas retail center in Uzbekistan, marking its official entry into the Central Asian market.
The company's inaugural authorized overseas retail center opened in Tashkent, Uzbekistan's capital, primarily selling its three extended-range electric vehicle (EREV) models -- Li L9, Li L7, and Li L6 -- to the local market.
In November, Li Auto said it will also open retail centers in Almaty, Kazakhstan's largest city, and the capital Astana.
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