Premium EV maker BeyonCa, backed by Renault and Dongfeng Motor, plans to set up a final assembly plant and its international headquarters in Hong Kong, Reuters reported.
The move would help develop the territory's first car brand.
Chairman Weiming Soh said: "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.”
While cars will be assembled in Tseung Kwan O, most of the manufacturing, such as stamping, body welding, and painting will be completed in mainland China.
The firm did not disclose the value of its investment or a timeline of when the plant could expect to start operating.
Last year Beyonca signed an MoU with a Saudi Arabia’s, Al Faisaliah Group Holding Company, to explore possible investment from the group.
