Hong Kong’s government to offer NETA Auto 200 million HKD of subsidy

Shanghai (Gasgoo)- On March 20, a significant partnership agreement signing ceremony took place in China's Hong Kong, marking NETA Auto as a key corporate partner of the local government, according to a report from the Hong Kong China News Agency.

This partnership underscores the collaborative efforts towards advancing the smart new energy vehicle industry in the region.

Photo credit:  Hong Kong China News Agency

Under the agreement, the Hong Kong Government has committed to providing NETA Auto with a subsidy of 200 million Hong Kong dollars and facilitating cornerstone investment of 200 million US dollars. This substantial financial support highlights the government's commitment to fostering innovation and development within the smart automotive sector.

With a facility already established in Hong Kong, NETA Auto is on track to construct an intelligence R&D center and a big data center in this region. These initiatives are focused on developing localized smart new energy vehicles that cater to the specific needs of international users. Furthermore, NETA Auto plans to build a manufacturing plant in Hong Kong. This move aims to strengthen the industrial linkage between Hong Kong and the Chinese Mainland, propelling the rapid global growth of the local smart new energy vehicle industry.

On January 12 this year, NETA Auto, NETA Auto successfully conducted the groundbreaking ceremony for its third overseas factory in the Rembau Chembong Industrial Zone, Negeri Sembilan, Malaysia, according to a post on NETA Auto's WeChat account.

The automaker revealed that the factory is scheduled to commence operations in 2025. This move solidifies NETA Auto's leading position in the local market and aims to swiftly and efficiently provide high-quality products and services to users in Malaysia and other ASEAN countries.