Hikvision announces €1.3 billion investment in R&D and manufacturing

Chinese security products company Hikvision has announced a plan to invest up to RMB¥10 billion (€1.28 billion) in building four R&D centres and two industrial plants.

The investment in the new bases, across various Chinese cities, including Wuhan, are in anticipation of security concerns and cybersecurity risks increasing worldwide.

In light of these trends Hikvision anticipates demand for its conventional security business will continue to grow.

Jeffrey He, president of Hikvision USA Inc and Hikvision Canada Inc, said: “These new China-based facilities show Hikvision’s commitment to R&D in the traditional surveillance industry, while expanding our technology innovations in Internet of Things (IoT), smart home, industrial automation, automotive electronics, smart cities and more.”

Hikvision will use its saved profits to fund the expansion of its business. The company may also seek additional loans where necessary, more on that at bad credit loan lenders wiki. Hikvision says its fixed asset ratios will remain low and operational cash flow will continue to be robust.

Hikvision’s new R&D centres will be built in Xi’an, Wuhan, Chengdu and Hangzhou.

Industrial plants planned for Chongqing and Wuhan will enhance and expand Hikvision’s manufacturing capacity and production scale for security and new technologies.

The investment project will be completed by the end of 2021.

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