Richard Liu, founder of JD.com and a megayacht owner, has announced the launch of Sea Expandary, a new company building intelligent but affordable yachts powered by ‘new energy’ including wind generation and solar power.

According to local and international media reports, the project involves a ¥5 billion (about US$700 million) investment in Guangdong province and includes R&D, manufacturing, sales, operations, leasing, brokerage and after-sales services.

On the same day as the announcement, Sea Expandary signed cooperation agreements with the Zhuhai Municipal Government, Shenzhen Marine Development Bureau and Qianhai Authority.

Sea Expandary’s plans include a headquarters in Shenzhen and a manufacturing base in Zhuhai utilising AI and robotics technology. Aside from boats, the company revealed plans to develop yacht clubs and marinas.

Liu, 52, stated that his goal with Sea Expandary is to make boats and boating affordable and accessible for ordinary consumers, comparing the sector’s potential growth to the expansion of the car industry in China. However, he said he will not be involved in Sea Expandary’s day-to-day operations, and his primary focus remains on JD.com.

se.360cec.com