Market Data 
BEIJING (Reuters) – Premium EV maker BeyonCa, backed by Renault (EPA:) and Dongfeng Motor, said on Friday it plans to set up a final assembly plant and its international headquarters in Hong Kong, developing the territory’s first car brand.
Following the one-two punch that the 2019 protests and pandemic delivered to Hong Kong’s economy, the city has sought to diversify and build up other industries.
“We aim to achieve a breakthrough in Hong Kong’s auto manufacturing industry, becoming the first international premier electric vehicle brand made in Hong Kong,” BeyonCa’s founder and chairman Weiming Soh said in Hong Kong.
While BeyonCa’s cars will be assembled in Hong Kong’s Tseung Kwan O, most of the manufacturing – stamping, body welding, and painting – will be completed in mainland China.
The company did not disclose the value of its investment.
