In a strategic move poised to catapult its global presence, Chinese AI logistics giant Westwell has officially opened its international headquarters in Hong Kong. The Shanghai-based company, renowned for its cutting-edge AI chips and autopilot systems for autonomous vehicles in the logistics sector, also announced the establishment of a research center in the city.
Hong Kong’s geographical advantage, world-class infrastructure, and its esteemed status as an international financial hub make it an ideal springboard for tech companies looking to connect with global markets, remarked Kay Yang Ming, Vice President of Global Strategic Affairs at Westwell. Moreover, Hong Kong serves as a key base for our major clients, including Hutchison Port Holdings and China Merchants Ports.
The inauguration ceremony, slated for late Tuesday morning, will witness the presence of Westwell executives and esteemed government officials, including Professor Sun Dong, Secretary for Innovation, Technology and Industry, and Lillian Cheong Man-lei, Under Secretary for Innovation, Technology and Industry. The Office for Attracting Strategic Enterprises (Oases), which focuses on drawing high-potential enterprises to Hong Kong, facilitated Westwell’s move.
Westwell made waves in 2018 with the launch of its flagship product, the Q-Truck, an autonomous, battery-powered commercial vehicle. The company’s international foray gained momentum in 2020 through collaborations with Hutchison Ports, resulting in the deployment of autonomous trucks at Thailand’s Laem Chabang Port and a 100-Q-Truck deployment at the UK’s Port of Felixstowe.
With a valuation of 7 billion yuan (US$973 million) following five successful fundraising rounds last year, Westwell boasts investors like China-based Essence Securities and InnoStar Venture under the Fosun Group. The company, comprising over 700 employees, with 80% dedicated to research and development, aims to collaborate with Hong Kong universities and research institutes to advance AI and autonomous driving technology.
While discussions with the University of Hong Kong and the Hong Kong Polytechnic University are ongoing, Westwell remains focused on expanding into “semi-closed loop” environments, such as autonomous transport between airports and logistics parks. The company’s decision to anchor in Hong Kong stems from the government’s support for R&D, digital transformation, and industrial infrastructure upgrading.
Hong Kong’s commitment to innovation is underscored by initiatives like the autonomous transport system planned by the Airport Authority Hong Kong, slated to debut by 2025. The system aims to connect AAHK’s Skycity complex and the Hong Kong Port Island of the Hong Kong-Zhuhai-Macau Bridge, with future extensions to Tung Chung Town Centre in 2028, solidifying Hong Kong’s status as a global aviation hub.
Westwell’s expansion marks a significant milestone in Hong Kong’s tech landscape, furthering the city’s reputation as a hub for cutting-edge innovation and technological advancement.
(Source: SCMP)
