Chinese AI Company Westwell Commits HK$300 Million to Recruit Global Talent for Hong Kong Base

In a major investment move, Westwell, a Chinese company specializing in artificial intelligence (AI) chips for driverless vehicles, has planned to allocate HK$300 million (US$39.36 million) over the next five years. This investment aims to draw in international experts to staff its newly established headquarters in Hong Kong.

Creating Job Opportunities in AI and Autonomous Technology

The investment by Westwell is expected to generate around 500 new positions, with a focus on research and development that will make up 70% of the roles. During the opening event of the new office, Westwell's founder and chairman, Kenny Tan Limin, outlined the significance of the Hong Kong headquarters to the company's global operations.

Tan emphasized that the decision to base their international HQ in Hong Kong is a strategic one, as it would enhance the company's capacity to cater to global clients and facilitate international growth.

Westwell's Foray into the Global Market

From its Shanghai roots, Westwell has been innovating in the field of AI chips and systems that govern self-driving vehicles, catering to the demands of the autonomous transportation and logistic sectors. Their flagship product, the Q-Truck, launched in 2018, is an autonomous electric vehicle built for commercial use.

With a valuation standing at 7 billion yuan (US$973 million), the firm has successfully attracted substantial investment, including from leading Chinese entities such as Essence Securities and InnoStar Venture.

Externally, Westwell has been actively expanding, having partnered with Hutchison Ports to incorporate its autonomous trucks in Thailand's Laem Chabang Port, and signing a deal with the UK's Port of Felixstowe for deploying 100 Q-Trucks.

Why Hong Kong?

The choice of Hong Kong as the site for Westwell's global headquarters was influenced by the city's notable status as an international finance, trade, and shipping center, bolstered by governmental support for innovation. Tan lauded Hong Kong's competitive edge, its industry focus, and the collaborative opportunities with its top-class universities and local institutions.

Hong Kong's Innovation and Technology Secretary, Sun Dong, touted the successful efforts to attract businesses like Westwell to the region, noting their rapid international growth and the city's synergetic advantages that contribute to such expansion.

Looking Ahead

The technology sector in Hong Kong demonstrates promising growth, and the city has ambitious plans to enhance this sector's contributions significantly in the coming years. For Westwell, the rich talent pool and academic strength of Hong Kong's universities represent a fertile ground for collaboration and innovation in the fields of AI and autonomous technologies.

Westwell, Investment, HongKong