Shanghai further cemented its position as a leading destination for multinational investment by certifying 30 regional headquarters and 15 research and development (R&D) centers of multinational corporations on July 25.
Among them, the Shanghai R&D Center of Otis Corp, a US manufacturer of elevators and escalators, was officially certified as a global R&D center by the Shanghai Municipal People's Government.
The certificate was presented by Shanghai Mayor Gong Zheng. Otis' Global CEO Luo Xiaoli accepted the certificate on behalf of the company.
"Otis Corp's Shanghai R&D center is our largest research and development base globally. This certification is a significant milestone in our innovative development and acknowledges Otis Corp's continuous investment in research and talent cultivation in China. The Otis Shanghai Global R&D Center will continue to address the needs of large-scale equipment upgrades and smart city development, providing intelligent and sustainable elevator solutions for the Chinese and global markets," said Sally Loh, president of Otis China.
China is the world's largest elevator market, thanks to its ongoing urbanization. Otis Corp's Shanghai R&D center was established in 2018 in the Hongqiao Linkong Business Park, employing hundreds of engineers. The center focuses on elevator technology, intelligent control, IoT, big data, and safety, achieving notable results.
Otis' Gen3TM smart elevators offer efficiency and energy-saving benefits, showcasing local innovations that can be exported and applied globally. The Otis ONE® digital platform uses IoT for remote elevator monitoring and predictive maintenance, enhancing efficiency. The Otis Smart Cab super elevator, which debuted at last year's China International Import Expo, features innovative designs and smart displays, earning it the 2024 Red Dot Product Design Award.
Otis has also established its China headquarters in Shanghai, providing comprehensive services, including R&D, design, manufacturing, and maintenance for landmarks like the Oriental Pearl Tower and essential infrastructure such as the Shanghai Metro and Shanghai Pudong International Airport.
