Leading automakers expand presence in Hongqiao CBD

Guided by China's "dual carbon" goals, new energy enterprises and industry partners have been establishing a foothold in Shanghai's Hongqiao International Central Business District (CBD). In recent days, CARIAD, a Volkswagen subsidiary, and Li Auto, a leading Chinese new energy vehicle startup, have both launched operations in the Minhang area of the Hongqiao CBD.

CARIAD, a subsidiary of German auto giant Volkswagen, sets up operations in the Minhang area of the Hongqiao Intl CBD. [Photo/WeChat ID: sh_drc]

Founded in 2020, CARIAD boasts over 6,000 developers, engineers, and designers globally. The new workspace is now operational and is set to become a new hub connecting Volkswagen's CARIAD global software technology research and development teams.

Li Auto's new workspace is situated in Hongqiao Tiandi and will serve as a new hub connecting the company's Beijing headquarters and its base in Jiangsu province's Changzhou city.

On the occasion of the 3rd anniversary of the construction commencement of the Hongqiao International Opening-up Hub on March 1 of this year, 11 enterprises signed agreements to settle in the district.

To date, approximately 25,000 companies have settled in the Minhang area, including over 260 headquarters-type enterprises.