Chinese e-cigarette brand Geekvape announced a new investment valued at several billion yuan in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) with the support of the Shenzhen Municipal Government. The new investment is part of the company’s long-term growth strategy with a focus on helping customers worldwide address their needs for increased production capacity. Geekvape plans to build a modern industrial park for intelligent manufacturing over the next two years. With the construction of the park, Geekvape aims to accelerate its transition to high-end intelligent manufacturing with continuous investment in technological innovations and ultimately take the industry to the next level.
Since its inception in 2015, the vapor brand has been recognized worldwide for its high-quality products and services. With the investment in an advanced industrial park, Geekvape plans to continue focusing on intelligent manufacturing and basic R&D with the aim of creating a 10-billion-yuan e-cigarette industry ecosystem, far exceeding the industry’s average output value. The huge ecosystem sets the stage for the company to build a strong presence in the global electronic vaping device market.
Through the investment, Geekvape becomes the first company in the industry to build modular intelligent manufacturing facilities and transform traditional manufacturing processes. By leveraging the combination of a connected intelligent manufacturing platform, Internet of Things (IoT) technology and big data, the firm will further improve product quality and services backed by fully intelligent management of product design, R&D, production, packaging, sales and after-sales businesses.
Geekvape chief executive Allen Yang said, “Geekvape has always been committed to helping improve human wellbeing and community development. Benefiting from the ideal economic, geographical and business conditions in the GBA, in tandem with the momentum in the intelligent manufacturing sector, we will build on our presence in the area to expand globally. Geekvape will provide our customers across over 70 countries and regions with better products and services enhanced by intelligent manufacturing and innovative technologies.”
The Large Industrial Park would cover fundamental research, lean research, product design, intelligent manufacturing, CNAS laboratory, supply chain management, product release, and other links, with a total expenditure of 10 billion yuan (US$1.55 billion). It is a three-dimensional ecological intelligent manufacturing industrial park with a tens of billions of electronic atomization equipment industry chain. As a Chinese electronic atomization solutions provider, Geekvape already has great worldwide manufacturing and R & D skills at a very early stage, and this move will solidify and strengthen its industry-leading position.