Otis Worldwide Corporation (NYSE: Otis)’s Research and Development (R&D) Center in Shanghai has been granted global R&D hub status by the Shanghai Municipal Commission of Commerce.
The Otis R&D Center in Shanghai is the company’s largest innovation hub, with hundreds of engineers collaborating to develop elevators, escalators, components and systems for China and the world.
"Shanghai is a vibrant mega-city that provides a favorable business environment for multinationals like Otis. The recognition of our R&D Center is an affirmation of our local innovation capabilities and the wealth of talent we have here in China," Sally Loh, Otis China President said.
"With a pioneering spirit and an enduring passion for innovation, we are committed to supporting China's high-quality urban development as smart cities and green buildings grow,” she continued.
Since establishing a foothold in China in 1984, Otis has been actively localizing its operations and developing products and solutions to serve the unique needs of this market. In addition to housing the Otis R&D Center since 2018, Shanghai is also home to Otis’s China regional headquarters and the global High Rise Center.