Beyond Meat Inc. on Wednesday opened its new state-of-the-art manufacturing facility near Shanghai, according to the company’s press release. The facility, in the Jiaxing Economic and Technological Development Zone, is Beyond Meat’s first end-to-end manufacturing plant outside the U.S.
The Jiaxing facility will feature research and development capabilities to create unique product offerings and support Beyond Meat’s local strategic partners.
The cutting-edge facility is expected to significantly increase the speed and scale in which the company can produce and distribute its products within the region.
The facility also improves Beyond Meat’s cost structure and sustainability of operations.
Beyond Meat’s facility is designed to serve China’s growing plant-based meat market and will produce an innovative range of plant-based pork, beef, and poultry products.
The facility underscores Beyond Meat’s commitment to China as a region for long-term growth
The announcement comes a year after Beyond Meat first entered mainland China through a nationwide partnership with Starbucks China. Beyond Meat stock is currently gaining. BYND: NASDAQ is up 2.65% on premarket.