Fortune 500 company Asea Brown Boveri (ABB) on Tuesday inaugurated its Shenzhen office in Nanshan i Park and introduced its 480kW high-power liquid cooling supercharge system to the Chinese market on site, Shenzhen Economic Daily reported.

A scene of the delivery ceremony August 9. Photos from Shenzhen Economic Daily

The supercharger technology developed by ABB in Shenzhen is said to be able to enable a vehicle to run for 200 kilometers at a charge of five minutes and store energy for four cars simultaneously. 

The ABB Shenzhen office, or ABB Electric Transportation China headquarters, is among the four headquarters projects that the Nanshan District Government signed at the 2021 Shenzhen Global Investment Promotion Conference last December.

ABB is a Swedish multinational corporation leading in electricity and automation and is ranked among the Fortune Global 500 companies. It posted a revenue of US$30.142 billion in 2021, according to Fortune.

A part of the 480kW high-power liquid cooling supercharge system.

In July 2021, ABB settled its electric transportation business unit’s China headquarters in Shenzhen, establishing ABB E-mobility Technology Shenzhen Co. in Nanshan to provide solutions for electric vehicle manufacturers and operators.

After signing a contract with the Nanshan government in December, ABB took shorter than seven months to inaugurate its Shenzhen office in Nanshan I Park, which is offering the company a 30% rental discount.

Since 2021, Nanshan has unveiled a slew of rental supporting policies for companies in the district. Among them, recognized major investment projects can enjoy discounts of 30-70% in industrial housing rental.

Currently, the district’s governmental industrial space houses nearly 50 investment projects, with an output value of over 60 billion yuan (US$8.90 billion) in 2021, according to the Daily. 

Data showed that Nanshan attracted 921 foreign direct investment projects in 2021, up 11.37% year on year.