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