Benzinga | Dec 20, 2021 01:40PM EST

Beyond Meat Plans New R&D Center In Shanghai

* Beyond Meat Inc (NASDAQ:BYND) has finalized the lease for a new R&D center in Shanghai, China, as part of its global expansion strategy.

* The new center will be the company's first dedicated R&D facility outside the U.S.

* The facility will serve as a hub for innovation with a team of scientists and researchers focused on developing plant-based meat products that cater to customers and consumers in the Asia-Pacific region.

* The company intends to open the facility in the first half of 2022.

* Price Action: BYND shares are trading lower by 5.33% at $65.55 on the last check Monday.