Stock Groups

Beyond Meat Plans for New State-of-the-Art R&D Center in Shanghai -Breaking

by Mike Robinson

[ad_1]

© Reuters

Sam Boughedda

Investing.com — Beyond Meat Inc (NASDAQ:) has finalized the lease for a new research and development center in Shanghai, China, as part of its larger global expansion strategy, the company said in an announcement Monday morning. 

The new R&D facility will be the company’s first outside of the U.S. and serve as a “hub for innovation.”

The shares of this fake meat producer fell by 6% Monday.

Dr. Dariush Ajami, chief innovation officer at Beyond Meat, explained: “This new resource will enable us to more precisely serve the palate of the Chinese consumer and contribute directly to the culture’s delicious cuisine, while joining our global effort to deliver plant-based meats that are indistinguishable from, healthier than, and over time, priced at parity with their animal protein equivalents.”

After opening its first China branch, Beyond Meat plans to expand in China. Plant for manufacturing in Jiaxing, its first manufacturing facility outside the U.S. 

Additionally, it has announced partnerships including Starbucks (NASDAQ: and KFC China while introducing the Beyond Burger, Beyond Beef, and Beyond Pork for the Chinese market. 

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]