Red Bull brand inventors and trademarks owners in China and overseas market TCP Group is planning to make an investment of more than $150m over the next three years in China.

With this investment, TCP intends to expand its presence in the Chinese market by establishing manufacturing centres, as well as supporting its local partnerships.

Plans also include launching new Red Bull products and other products from TCP’s global portfolio.

TCP Group CEO Saravoot Yoovidhya said: “TCP is proud to unveil our planned investments of more than $150m over the next three years in the Chinese market. China, as my family’s ancestral home, has always been at the front and centre of our ambitions to become a global ‘House of Brands,’ and our new commitment will help make that aspiration a reality, by strengthening our foundations in-country and therefore empowering TCP to bring the very best of Red Bull to Chinese consumers.

“We are grateful to the Beijing Municipal Government, Huairou District Party Committee and the Huairou District Government for always providing such an excellent business and investment ––environment and thank them for their support for our next phase of expansion.

“We hope that through these efforts in Huairou, and at this particular time since the Covid-19 epidemic has come to an end, we can achieve our common goals in terms of economic growth as well as continue to build upon TCP’s longstanding commitment to China by contributing to its sustainable development.”

As part of this initiative, TCP is entering into partnerships, as well as establishing a new business model to ensure the long-term development of Red Bull in China.

TCP has partnered with local firms including Guangzhou Yao Energy (GZYE) and Pusheng Food Sales (PS) for launching products in the Chinese market.

Additionally TCP is been backed by the Huairou District Party Committee and the Huairou District government in Beijing for establishing new operations.

TCP’s investments could increase the production and sale of Red Bull products.