Visedo focuses on Asia
Finnish manufacturer of heavy duty electric drivetrains, Visedo, is focusing on hastening the transition to hybrid and electric marine vessels across Asia.
Visedo CEO, Kimmo Rauma, has announced a new subsidiary location to assist the company to expand into emerging markets across mainland China, East Asia, South-East Asia and the Pacific because he said, corporates and governments are becoming increasingly aware of their environmental responsibilities.
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.
Mr 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.”
China is already the world’s single largest electric vehicle market. 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 - Marine vessels including ferries, passenger road vehicles including buses and heavy duty machinery.
Tony Wong, managing director of Visedo Asia, added: “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.”
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