HiTS Shanghai Plans Expansion to Hong Kong for Hydrogen-Powered Drones
Key Ideas
- HiTS Shanghai Hydrogen Power Technology aims to establish research and assembly operations in Hong Kong for hydrogen-powered drones.
- The company seeks to emulate BYD's success in the electric vehicle market by leveraging its expertise in hydrogen fuel cells and drone technology.
- They urge the Hong Kong government to promote fuel-cell drone technology for the city's 'low-altitude economy' below 1,000 meters.
- With plans for an overseas sales headquarters and R&D center in Hong Kong, HiTS aims to go public on the Hong Kong Stock Exchange in the next one to two years.
HiTS (Shanghai) Hydrogen Power Technology, a company looking to become a leader in commercial drones powered by hydrogen fuel cells, is planning to expand its operations to Hong Kong to cater to global markets. The company's CFO, Ben Lin, highlighted their expertise in both hydrogen fuel cells and drone technology, drawing a parallel to BYD's success in the electric vehicle market. They are advocating for the Hong Kong government to promote the adoption of fuel-cell drone technology for activities below 1,000 meters in the city's airspace. HiTS envisions establishing an overseas sales headquarters, a research and development center, and potentially going public on the Hong Kong Stock Exchange within the next one to two years. This move aligns with the government's efforts to develop a 'low-altitude economy' by initiating pilot projects, setting regulations, and planning necessary infrastructure.
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