Global automotive technology provider Ricardo has opened an office in Shanghai in the prestigious Maxdo Centre in the Hongqaio area to the west of the city.
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The brand new office was formally opened by Philip Mani, deputy consul general of the British Consulate General in Shanghai.
The new facility provides Ricardo with a presence in the rapidly expanding Chinese automotive industry. Customer demand was one of the original drivers for such a presence, something that has been borne out with a number of significant recent awards from Chinese customers.
While Ricardo has been active in China for a number of decades, its business activities in China have grown substantially in recent years.
It has traditionally supported western joint venture organisations which value the global reach that the company can through its extensive international network of technical centres.
More recently, Ricardo has also been assisting domestic automakers in the development both of their own product ranges and in training and technology transfer to enable the development of their own research and development capabilities.
To coincide with the opening of the Shanghai office, Ricardo is also considering establishing a wholly owned foreign entity (WOFE) in order to enable further improvements to the local service that it can offer its Chinese customers and provide a basis for further development of the business.
Headed by executive vice president, Stephen Clarke, the new office will provide a base for the long-term development of relationships in the fastest growing automotive marketplace in the world, where most commentators are forecasting a three-fold increase in car production by 2015.
