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Hikvision to build R&D base in Optics Valley

Updated: 2017-09-30 Weibo Weixin Qzone Facebook Twitter More

Wuhan East Lake High-tech Development Zone (Optics Valley of China) and Hangzhou Hikvision Digital Technology reached an agreement on Sept 29, to build Hikvision’s largest domestic R&D base in the zone’s optoelectronic information industrial park.

Hikvision will invest 3.5 billion yuan ($526 million) to build the R&D base, covering smart storage, Internet of Things sensors, high-end intelligent equipment and electronic automobile products.

According to the agreement, the R&D base will start construction in 2018 and go into operation in 2020. It is expected to achieve an annual output value of five billion yuan in 2025, and employ 20,000 researchers.

Hikvision was established in November 2001 in Hangzhou, Zhejiang province. As a leading video surveillance hardware manufacturer in global markets and a significant player in the memory industry, Hikvision will be an important customer of the National Memory Base Project which is under construction in Optics Valley of China.

With the investment of Hikvision, Optics Valley of China will have strengthened research and innovation capabilities in artificial intelligence, and will build an industrial cluster worth one trillion yuan featuring chips, displays, and intelligent terminals.