China’s electric car companies are flocking to Hong Kong

HONG KONG: Companies involved in China’s electric car industry are setting up shop in Hong Kong to leverage the city’s financial system for their global expansion, investing over US$1bil so far and creating hundreds of jobs.

The world’s largest battery maker, Contemporary Amperex Technology Co Ltd, said earlier this month it plans to open its international headquarters in Hong Kong with some HK$1.2bil and hire 500 employees.