Otis North China R&D Center Settles in TEDA

On October 16, TEDA Administrative Commission signed an investment cooperation agreement on the Otis North China R&D Center with Otis (China) Investment Co., Ltd. With a planned investment of nearly 50 million RMB, the Otis North China R&D Center will focus on R&D projects in commercialization of new material technology for general platform elevators and the technical development of high-capacity, high-speed traction machines. It will also leverage its production base in TEDA for technology commercialization, further boosting the output and contributing to the optimization and upgrading of the manufacturing industry in TEDA, Binhai New Area, and even Tianjin.

Otis is the world’s largest manufacturer, installer, and service provider of elevators and escalators, serving more than 200 countries and regions worldwide. Otis Elevator (China) Co., Ltd. was established in TEDA in 1998. With the location advantages and regional development support, the TEDA production base has become the company’s largest elevator manufacturing and high-speed elevator production base globally. The establishment of the North China R&D Center reflects the company’s recognition of the investment environment in TEDA and it’s commitment to deepening its presence in TEDA.