Visedo focuses on Asian growth with new Hong Kong office
Our client Visedo is focused on hastening the transition to hybrid and electric vehicles, such as buses and marine vessels, across the Asia Pacific region with the opening of a new office in Hong Kong.
Visedo CEO Kimmo Rauma today announced the new subsidiary location to assist the company to expand into emerging markets across Mainland China, East Asia, South-East Asia and the Pacific.
This follows the company’s recent signing of a letter of intent with venture capital and private equity fund management company, Beijing Capital Investment, to help Visedo access China’s booming electric vehicles market.
China is already the world’s single largest electric vehicle market, and the greater Asia Pacific region – driven by demand in China and Japan – is forecast to be the world’s fastest growing market for electric vehicles by 2022. As part of the nation’s 13th Five-Year Plan for emerging industries, China is investing heavily in electric vehicles and cleantech innovation.
Visedo Asia’s office in Hong Kong will focus on delivering hybrid and electric drivetrain solutions for three segments: land transport such as buses, marine vessels including ferries and heavy duty machinery – in markets across Mainland China, Hong Kong, Taiwan, Macao, Singapore, Japan, South Korea, Australia and markets in South East Asia.
Visedo CEO Kimmo Rauma said:
“Since 2012 we’ve understood that markets across Asia Pacific present a unique opportunity in the race to electrify transport, not only for potential sales but for the beneficial impact such a transition will have on local populations.
“With roadside and marine-based pollution blamed for causing thousands of premature deaths across the region each year, Visedo is proud to be electrifying more commercial and heavy duty transport solutions, such as Asia’s first hybrid electric ferry in Taiwan launched earlier this year.”
Managing Director of Visedo Asia Tony Wong said:
“For the past five years Visedo has been involved in pursuing electrify opportunities in Asia which has resulted in the company currently collaborating in several major prototype projects in the region.
“Visedo Asia has many goals for the future, including continuing to pursue series production orders, supporting our customers locally and confirming local manufacturing partners for our hybrid and electric vehicle powertrains. We estimate that half of the company’s worldwide revenue will come from Visedo Asia within five years.”
About Visedo OY
Founded in 2009, Visedo is a Finnish manufacturer of heavy duty electric powertrains for the marine industry, commercial vehicle and heavy-duty machinery sectors. Visedo powertrains are suitable for hybrid and electric systems within the power range of 30-2,000kW. Visedo’s head office is located in Lappeenranta, Finland, and the company has subsidiaries in the Netherlands and Hong Kong. Visedo has a broad, international client base, with exports to Europe and Asia representing 90 percent of its sales.